Bitcoin absorbs $ 66 billion of profits from new buyers-the new demand maintains the price stability star-news.press/wp

Bitcoin is once again at a critical turn after restoring the key levels over the $ 105,000 sign. During the weekend, BTC witnessed severe fluctuations resulting from the US military’s strike on Iranian nuclear facilities, which caused panic across global markets. However, yesterday’s announcement of the ceasefire between Israel and Iran led to relief, which sparked a sharp recovery in the price of bitcoin.

This week is expected to be decisive in determining the path of bitcoin in the short term. While the bulls managed to regain control in the short term, uncertainty remains high due to global tensions and winds that oppose the macroeconomic. The data on the series of Cryptoquant provides an additional look at the current market dynamics. Since mid-April, the maximum achieved for the age group 0-1 month has increased by $ 66 billion.

Despite this pressure pressure, Bitcoin has been held within a narrow range, indicating that the demand is strong enough to accommodate the last profits. If the bulls can build on the current momentum, Bitcoin may be the distance to move the next main. All eyes are now on whether BTC can exceed $ 109,000 to re -test their levels at all.

Bitcoin enhances the market absorption to pressure profit

Bitcoin recently faced severe volatility, decreasing to $ 98,000 before a sharp recovery over a $ 105,000 sign. This recovery comes amid increasing concerns about a higher potential formation, which led to the strengthening of the homosexuality between the market participants. Despite this psychological pressure, the data on the chain still shows a structure for the flexible market with no major warning signs of imminent collapse.

According to senior analysts Axel Adler, since April 13, the maximum achieved for the age group 0-1 month increased by 66 billion dollars. This scale reflects a great activity to make profit from short -term holders who entered into positions during the assembly. Nearly 720,000 BTC was sold during this period, adding a large supply pressure to the market.

However, what draws attention is how Bitcoin managed to absorb this sales volume without collapsing. Prices have been largely within the scope of tight unification, indicating that buyers intervene to match the external flow. This type of accumulation often refers to the strength of the surface, even when the price procedure appears to be uncertain.

The broader market is now closely monitoring to see if Bitcoin can maintain momentum above 105 thousand dollars and pressure towards re -testing the resistance area from 109 thousand dollars to 112 thousand dollars. Until then, monotheism remains the prevailing direction, and perhaps calm before the next main step.

BTC tests the resistance after recovering 105 thousand dollars

The Bitcoin scheme for 4 hours shows a strong recovery from its lowest level of $ 98,000, where the price currently hovers about 105,300 dollars. This step follows a sharp increase in the purchase of momentum that pushed BTC above the main support level that was converted to $ 103,600. Restore this level, along with a decisive closing higher than the 50, 100 and 100 points, renewed referendum signals.

The volume of size also increased dramatically during the last highlands, indicating the real market sharing and not just a short pressure. However, BTC is now approaching the main meeting area between 105,500 dollars and 106,000 dollars, as the moving average is converging in the period 200 and a modern horizontal resistance area. This range was a rejection area several times in June, and the price procedure here will determine whether BTC could aim to resist the following resistance at $ 109,300.

Until BTC is broken more than 106 thousand dollars with a strong size, the wider market structure remains a little neutral. The highest decrease during the reversal of 98 thousand dollars gives the bull some confidence, but the confirmation will only come if the price is merged above 200 and is paid towards its highest levels in May.

Distinctive image from Dall-E, the tradingView graph

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