$BTC Break Below $97,877 & $91,700? The Bull Market Could Be in Jeopardy
The post $BTC Break Below $97,877 & $91,700? The Bull Market Could Be in Jeopardy appeared on BitcoinEthereumNews.com.
Bitcoin ($BTC) moves through high volatility zones as the crypto market shows signs of potential weakness. Analysis by Ali indicates potential market dangers and a possible end to the bull phase when Bitcoin crosses below $97,877 or $91,700 support levels. The following breakdown examines all relevant elements. With a significant amount of $BTC accumulated at $97,877, this level holds critical importance. If it holds, the bull run could continue. However, a break below $97,877 and $91,700 could put the entire bull market in jeopardy.https://t.co/adz1GAiTFL — Ali (@ali_charts) January 30, 2025 Realized Profits Suggest Market Top Risk The Bitcoin market usually peaks when realized earnings reach their highest point. The December 2024 profits exceeding $3 billion signify a possible local top for $BTC. Profit-taking activities generate additional market sell orders that may impede Bitcoin price growth. Miners and Long-Term Holders Increase Selling Pressure Bitcoin miners contribute additional force to the market selling volume. During the midpoint of January 2025, $BTC miners disposed of more than 20,000 $BTC, which had an estimated worth of $2 billion. Market sentiment could undergo a substantial shift because of this large increase in supply if demand levels do not match the new market conditions. Long-term holders (LTHs) play an active role in the present market sell-off situation. The Bitcoin holdings of Long-Term Holders declined by 75,000 BTC throughout the previous week. The movement of Bitcoin investors who traditionally hold their positions points to a possible change in their long-term investment plans. Declining Capital Inflows and Network Activity The dropping trend in capital inflows indicates a bearish market signal. Bitcoin capital inflows experienced a drastic 63.3% decrease between December 10, 2024, and the present, reducing from $134.65 billion to $43.37 billion. The market shows fewer new buyers entering, reducing Bitcoin’s capacity to maintain its price increase. According…
Filed under: News - @ January 31, 2025 4:21 am