Bitcoin shows a declining style, but Bulls take less than $ 120,000 star-news.press/wp

Main meals:

• Bitcoin formed a sunken candle, indicating a possible exhaustion in the short term.

• The mining workers ’position has risen to its highest level since November 2024, and has won record levels.

• Despite the sale of panic, more than 196,600 BTC was collected in the range of 116,000-118,000 dollars, which enhances the long-term upscale emotions of traders.

Bitcoin (BTC) has printed the first noticeable significant signal to the daily chart since early May, which is a sunken candle in the star. This comes after a crowd of 19 % over the past 21 days, and may indicate fatigue.

The data from the Cryptoquant highlighted that the MPI Index Index has risen above 2.78, the highest level since November 2024. MPI measures the amount of bitcoin mines to the stock exchanges for one year average. High reading indicates an increased probability of sale. Although this may add short -term pressure, the height remains much lower than the levels that usually appear near the upcoming market peaks.

In addition to this warning outlook, the profit and loss achieved (P&L) from the BTC deposits to the central exchanges reached the highest level at all times 9.29 billion dollars, indicating the achievement of aggressive profits. Crazzyblockk code analyst Make up These scales indicate a high -risk area where short -term fluctuations may increase, even with the broader upward trend.

Meanwhile, the Hyblock Capital trading platform noted that Bitcoin’s open interest is “close to butter levels.”

“Historically when this (F) Fear & Greed occurs in” extreme greedy areas ” -> we get local peaks and corrections. These bright red prominent points are when both cases occur. Historically, these time limits are much longer, so do not push for a trade immediately.”

Related: Bitcoin Digests US PPI WIN with $ 120,000 liquidity on Bulls ‘radar’

Is it time for bitcoin holders to panic or patience?

Bitcoin retracted the last Arose A wave of panic, with approximately 50,000 BTC, was unloaded in a loss within 24 hours, according to Bitcoin Axel Adler Junior researcher.

However, data Suggest The withdrawal was met with a stronger purchase. The main map for the cost distribution in Bitcoin explains that investors have accumulated more than 196,600 BTC, with a value of more than $ 23 billion, between $ 116,000 and $ 118,000. Thus, despite the signs of fear -based sale, the large -to -decline construction confirms the confidence of the market and condemnation in the path of bitcoin in the long run.

From a technical perspective, Bitcoin remains firmly within its long -term bullish structure as long as it merges above the level of $ 112,000. After a 19 % mobilization, the period of a side movement or a simple withdrawal is a healthy reset, allowing the market to cool, expel the extra financial lever, and get rid of the weakest hands.

While the last declining downty pattern may indicate a short -term exhaustion or a possible reflection, it is not nullified after the broader genetics. As long as the main support levels have about $ 112,000, the possibility of BTC appeals resumes its upscale momentum remains high.

Related: Bitcoin “not in the peak yet”: Watch these following BTC prices

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.