Key dealers
Institutional investors have been an important catalyst for Bitcoin’s latest dip, but the election and mining business remains strongly haisse, which provides fuel for a potential rally.
Bitcoin (BTC) has entered a consolidation phase after its maximum time over $ 123,000, a zone that was usually characterized by accumulation before a major outbreak.
Interestingly, profit -making among long -term holders has reached their highest level this year. Nevertheless, other market signals indicate that Bitcoin may continue to rise.
Profit-giving nail-but from their top
Over the past 24 hours, long -term holders (LTHS) have started selling bitcoin to lock in the profit, according to Cryptoquant.
This trend is confirmed by the production gain (sopr), which has risen above 2.5, its highest level so far this year.
Despite the nail in realized profits, Sopr remains below 4.0. Historically, this threshold has labeled Bitcoin local peaks, including 2021.
Source: Cryptoquant
This suggests that even with Bitcoin, which only deals with $ 5,000 shy for its high, long -term holders, has not completely left the market, an indication of space for further upwards.
But if LTH’s continue to sell, it can exert further downward pressure on the price.
At the press time, the binary coin days (Binary CDD) indicator showed a reading of 1, which signaled continued sales of long -term holders.
If this trend persists, Bitcoin can decrease further from its current diagram level.
Other market forces remain haussearted
While many long-term holders release Bitcoin, the analysis reveals that Val- who commands significant trade equalism and miners still showing rais-like behavior.
The exchange ratio of Kryptoquant is currently 0.42. This suggests that whales are actively traded on exchanges, with the latest winnings that suggest further hausseartat momentum.
Source: Cryptoquant
Similarly, the mining position index (MPI) is at -0.2 and trends upwards. When MPI is in negative territory, this means that miners stick to their bitcoin.
If this negative trend continues, it confirms that miners will remain Hausse on Bitcoin. This behavior can reduce circulating supply and create the conditions for a delivery press.
Temporary dragback or deeper shifts?
Institutional investors have become baisse -like. Over the past 24 hours, they sold $ 131.40 million in Bitcoin-with a 12-day line of net purchases.
Still remains their total net possession of $ 111.47 billion per Tiled.
Source: Coinglass
This movement seems to be a profit-making event, in line with the SOR trend, and can simply represent a backback rather than a broader change in the feeling.
A renewed increase in institutional purchase would signal that Hausseartat Momentum has resumed – possibly drives Bitcoin from its current consolidation area.
