Bitcoin climbing to 122 thousand dollars and why the party stablecoins can spoil the party star-news.press/wp

Main meals

Bitcoin’s Stablecoin supplies increased, indicating low capital flows although the price is hovering near $ 119,000. BTC should attract more flows or risk losing its upward momentum.

Bitcoin (BTC) The market momentum has increased despite the continuous increase in the percentage of Stablecoin (SSR), which is now hovering near its highest multiple levels.

This scale reflects the purchasing power of Stablecoins for Bitcoin. The rising SSR suggests weaker dry powder.

Although Bitcoin is about $ 119,000 at the time of the press, the lack of reserves of stablecoin flow indicates poor liquidity, which may reduce the potential of the upward trend.

source: Cryptoquant

Can BTC Bulls defend the upward trend line above $ 116,000?

Bitcoin continues to respect the rising support line.

The price hovers between 118 thousand dollars and 119 thousand dollars, as Macd continues to flash moderate ups. SAR points also remained less than the price, indicating that the trend is still intact.

However, the range of $ 116.8 thousand to $ 114.8 thousand is now working as a critical temporary store. The decisive daily closure below would turn the temple and call the deeper passive side.

Source: TradingView

Is the rising MVRV ratio a bitcoin warning sign?

The MVRV Z-Score from Bitcoin has risen to 2.83, which reflects high unrealistic profits between the holders.

Historically, these levels tend to synchronize with potential local profits and paws. Although it is not at the maximum levels above 3.5, the current reading indicates an increase in incentives for sale.

This height, associated with weak liquidity, creates a scenario as Bitcoin may face resistance in maintaining higher prices.

However, unless profits are intensified, the market may still maintain ascending pressure.

The next few days will be decisive in determining whether this gathering is developing into a deeper correction or dealing with renewed demand.

source: Vocal

Are mines preparing for sale?

The MPI workers ’index (MPI) has decreased sharply to -1.06, which represents a 32 % decrease over the past 24 hours. This is a clear sign that miners do not rush for sale.

When MPI decreases to this extent, it usually indicates a high condemnation or frequency in the market. It also removes instant upper pressure, although it can turn quickly if the prices stop.

source: Cryptoquant

Will these filter areas lead to severe fluctuations?

The Binance BTC/USDT liquidation map has unveiled the long -focused liquidation groups between 120 thousand dollars and 122 thousand dollars.

As bitcoin is approaching these areas, the risk of forced references grows – specifically amplifying fluctuations.

In fact, the accumulation of long situations with high leverage at these levels means failure to penetrate decisively can lead to successive sales.

On the contrary, strong collapse over these groups may liquidate short pants and pay a higher BTC.

However, given the risks of weak Stablecoin support and the risk of profit, traders must prepare to increase price fluctuations as BTC moves this mystery field to the lady.

source: Coinglass

Can Bitcoin extend its gains?

BTC accumulates technically, but feelings and liquidity do not fully invite them. The bulls must call more capital – or risk withdrawing near 120 thousand dollars and 122 thousand dollars.

Miners do not sell, which helps. But with Stablecoin’s support in the height of incentives and profit, this gathering is moving a rope.