Bitcoin lower price

The price of Bitcoin continues to struggle without a psychological $ 85,000 mark, and has failed to overcome this critical level in the past two months.

Despite some attempts to secure height, the leading cryptocurrency remained stagnant, which increased the pressure on long -term holders (LTHS). These investors, who enjoy strong profits, now see a decrease in their unrealized gains.

Bitcoin investors retreat

The long/short difference, MVRV, which is a major scale used to measure morale in the market, reveals a disturbing direction of LTHS. The index has recently reached its lowest level in two years, indicating that the profits of the long -term pregnancy are in its lowest levels since March 2023. This shift indicates that market conditions are increasingly favorable for LTHS.

like Bitcoin price failed To recover, short -term holders (Sths) began to control, and take advantage of price fluctuations. Meanwhile, their LTHS holders, who face decreased profits, depend on buying or keeping more.

generally Bitcoin momentumIt is measured by technical indicators, also reflects homosexuals. Hodler Netition has changed this narration, showing that LTHS has sold a large part of their holdings over the past two weeks. In total, these sales amounted to more than 6596 BTC, which are valued at more than $ 550 million.

Although this number may not be enormous, the psychological shift from confidence to caution between LTHS is a greater source of concern. This lack of condemnation may delay the Bitcoin recovery and contribute to more prices. In turn, this may reduce market activity and exacerbate continuous contraction.

BTC price faces a decrease

Bitcoin price It is traded at 84,421 dollars, and it hovers above the decisive support level of $ 82,619. The price remains trapped under the main resistance level of $ 85,000, which may cause more pressure if it fails to collapse. If Bitcoin loses support at $ 82,619, the next main psychological support of $ 80,000 can decrease.

If the declining direction continues, the price may decrease further, with $ 78,841 as a crucial level of viewing. Loss of this support would represent a more important contraction, which confirms the continued weakness of the market and deepening the downside of Bitcoin.

However, if Bitcoin runs To breach and keep $ 85,000 in support, it can ignite the recovery, which prompted the price up to 86,848 dollars. The constant increase in more than 85,000 dollars will nullify the current downward trend and pave the way for a possible rise of about 89,800 dollars, which restores confidence between investors.