Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?
Earlier this week, Bitcoin recently faced the slowdown of rising trajectories of more than $ 105,000. Cryptocurrencies have shown signs of potential breakthroughs, but when the market evaluates its next step, key indicators have begun to focus.
Analyst’s latest opinions have proposed whether Bitcoin’s market momentum It can overcome the resistance level of $ 108,000, which is the highest level of history.
Analyze the market indicator of Bitcoin
In the price performance of BTC, encrypted analyst Shayanbtc provides opinion About challenges and Future possibility For Bitcoin. Shayan pointed out that despite the recent price of Bitcoin, the capital ratio (this is a key chain indicator) has begun to decline.
This difference in loser shows that the demand for permanent market may weaken, and whether the current bullish momentum is sufficient to high Bitcoin higher than its history.
In particular, one of the main obstacles of Bitcoin’s price of more than 108,000 US dollars is the lack of strong market enthusiasm, which is reflected in the funding rate. According to Sagay, the increase in fundraising rates indicates that the long position increases, and Market optimismEssence
However, the current decline signal of these rates shows that traders are unwilling to bet on further prices. Shayan emphasized, no Obvious improvement In the flow of optimism and long positions, Bitcoin’s resistance is $ 108,000 may maintain the company’s state, which may cause the merger stage or even temporarily reject. Analysts wrote:
In order to make Bitcoin decisively violated the price of $ 108K, the funding rate must be further increased, which shows that optimism has increased and poured into a long position. Without this enthusiasm for the entire market, the resistance is $ 108,000, causing potential mergers or temporary rejection.
Instructions of long -term holder indicators
On the other hand, long -term holders (investors who have maintained Bitcoin for seven years or longer) did not show their willingness to sell their assets. Another encrypted analyst reported this on the post on the Quicktake platform Well -knownThe
Holding Bitcoin has been selling some shares before the end of the last bull market for seven years or longer. Long -term Bitcoin holders have not shifted their shares to the exchange.
This behavior emphasizes the trends seen in the previous market cycle: long -term holders usually maintain toughness through price fluctuations, thereby providing a stable support foundation for cryptocurrencies.
The decision of these holders to communicate Bitcoin shows that even if the short -term market emotional fluctuations are fluctuated, they are confident in the long -term value of assets.
Use the characteristic image created by Dall-E, the chart of TradingView
