Bitcoin continues to impress as one of the best practitioners among the large capital, with its value climbing by almost 25% over the past month. More outstanding the Bitcoin Prize has managed to stay above the six-digit valuation limit despite Slow market conditions In the past week.
After a few weeks of strong haus -art, the flagship Cryptocurrency seems to have lowered in the consolidation area of $ 102,000 – $ 105,000. Despite the market-wide call to regain its highest time, the Bitcoin Prize is currently facing a certain degree of determination among investors.
BTC price can prepare for a sale
In a 16 May post on the social media platform X, the analytics company Alphractal declared That the Bitcoin price is at a time, which can be crucial for its future path. This evaluation on the chain is based on the long-term realized CAP impulse, a metric that measures the growth rate for the realized capitalization of long-term holders.
For clarity, a positive value for the long-term realized CAP impulse signals signals that long-term investors buy more BTC at a higher value. This trend is usually an indication of a haussey period or the beginning of a bull market when Long -term holders are in accumulation location.
On the other hand, when the long -term realized cap impulse metric is negative, this means that long -term holders release their coins at prices that are lower than their cost bases. This is usually seen in late bull cycles and early bear markets, where long -term investors distribute their assets.
In addition, the long-term realized CAP impulse indicator offers insights into bitcoin’s supply and demand dynamics, which highlights large support and resistance zones. As shown in the diagram provided by Alphractal, the Bitcoin price is at a critical point characterized by a horizontal line called determination level.
Source: @Alphractal on X
The market intelligence company noted that an outbreak of long -term realized mice impulsmetrics from this level may prove to be crucial to Bitcoin’s long -term health, Signaling continued strong demand and potential price estimate.
However, Alphractal attached a historical relevance to this level and noted that the long -term realized cap impulse metric was rejected at the decision government zone just before this level, which can do in March 2020. If historically precedent is something to pass, maybe investors want to look for any rejection around this level, which can trigger a significant sale.
Bitcoin price
From this writing, the price of BTC sits about $ 103,713, which reflects an only 0.6% increase in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Image from iStock, chart from tradingview
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