Bitcoin price fell to $ 111,000 of short -term holders star-news.press/wp

Bitcoin has decreased to $ 111.038 at the time of the press, an increase of 0.9 % in the past 24 hours, but still decreased by 2.4 % during the past week with the appearance of speculators in the short term.

Bitcoin (BTC) is now 10 % less than its highest level ever at $ 124128 on August 14. Trading activity was cooled, with a 24 -hour spot size at 38.7 billion dollars, with 33 % of the day before. Derivatives market shows a similar slowdown.

The future size decreased by 40.7 % to 81.5 billion dollars, while the open interest decreased by 0.7 % to 81.3 billion dollars, according to Coinglass Data. The most strict price fluctuations may result from low future contract activity, usually indicating a lower demand than speculation.

Bitcoin data appears on the health reset chain

This last decline seems to remove new players instead of their long -term holders, according to the data on the series. On August 27 analysisThe Cryptoquant Crazzyblockk shareholder noted that investors carrying BTC for less than a month sit on average incomplete losses by -3.5 %, which causes many to sell.

This has been confirmed by a noticeable decrease in the show that these short -lived addresses maintain. At the same time, the two-month-old holders remain in profit (+4.5 %), which indicates a little stress. This indicates that the sale is concentrated among the new participants instead of the broader rule in the short term.

According to Crazzyblockk, this type of surrender is “building”, as it redistributes metal currencies from weaker hands to more flexible holders, enhancing Bitcoin’s basis for this step.

Market pressure depends with weakening the Bitcoin purchase/sale/sale

Another Cryptoquant analyst, Cryptoonchain, A mark has been placed The moving average has decreased for 30 days to sell/sell Taker to its lowest point since May 2018. The ratio indicates continuous sale pressure when it decreases to less than 0.98, and the current reading shows that the market suffers from great pressure.

The important aspect is that this ratio is currently decreasing in the preceding peak of Bitcoin in November 2021. Although the price has increased, this difference indicates that the primary momentum on the purchase side is diminishing, making the market vulnerable to the additional decline in the short term.

Bitcoin technical analysis

Graphic indicators give a mixed image. In 41, the relative power index is close to the sales lands and may provide some relief in the short term. In addition, the commodity channel index explains a purchase signal, indicating that Bitcoin may be stable.

However, the indicators of momentum and trend are still down. MACD and momentum are both pressure of the negative side. The moving averages are similarly tended. BTC is trading less than 10, 20, 30 and 50 days of SMAS/EMAS, which enhances the short -term downward trend.

On the positive side, Bitcoin continues to stick to its long -term support between EMAS, which is 100 and 200 days, which is about $ 111,000 and $ 103,000, respectively.

If buyers enter about 110,000 dollars – $ 111,000, RSI RLIEF BTC can push the resistance near $ 115,000 – $ 117,000. The failure to maintain a level of $ 110,000 opens a course to a $ 107,000-108,000 dollar region, with the most powerful support of about 103,000 dollars on average 200 days.