Bitcoin (BTC) Currently, estimates under $105,000short distances from about $110,000 from its past maximum.
As Cryptootics showed, Conditions are given for bullish breakdowns: Commercial agreements between the US and China, expectations for interest rate cuts by the US Federal Reserve, and strong entry into institutional capital.
In this context, fear and greedy indexes measuring market sense mark “greed” levels, but global stock markets have also recovered, showing signs of appetite through risk.
The stage is never more popular. nevertheless Bitcoin is turning left and right at $5,000 for days under his historic roof.
The questions that arise are obvious: Would you like to finish the breakup? The answer may be in the offers that remain on the market, especially from. Short-term Hodlers who are profiting after a strong increase cycle.
Short-term Hodlers (who maintain coins for less than 155 days) are profitable, as seen in the following image taken from the GlassNode platform.
Like these investors, in general, they do not have a profession of Bitcoin permanence. Once they find out they have a green number, they tend to sell BTC in exchange for fíat or stablecoins of money.
It is worth clarifying that the activities of these vendors do not necessarily mean a return to trends, but it can create temporary resistance and is difficult to overcome certain key levels, such as $110,000. According to Iván Paz Chain, CEO of Trading Different, in its price range, there is a strong concentration of liquidity, so after overcoming current barriers, Bitcoin tends to go there without many obstacles.
Unless the offer is fully absorbed, prices will be difficult to move with strength towards new heights. But once the pressure on saleswoman was exhausted, the roads were able to be cleaned up for a new bullish rally.
The market continues to observe, analyze and wait. For now, Bitcoin breathes before it runs.