Bitcoin Nears Key Resistance, Eyes $95K or Drop to $83K
The Most Important Points at a Glance
Bitcoin is moving near key resistance levels as short-term investors adjust their strategies. The increase in supply from short-term holders (STH) could either indicate a continuation of the upward trend or an impending profit-taking phase. The crucial factor will be whether Bitcoin breaks through the resistance at $87,000 or undergoes a correction.
Impact of Short-Term Holders on Bitcoin Price
Data from Glassnode shows that the supply of short-term holders has increased significantly in recent weeks. This development coincides with Bitcoin’s recent recovery to $85,856. Historically, an increase in STH supply during an upward movement either leads to further buying pressure or a selling wave that slows down price development.
Long-term holders (LTH) still hold the majority of Bitcoin reserves, but the growing share of short-term holders could indicate a shift in market sentiment. If these investors increasingly realize profits, it could limit Bitcoin’s price growth.
Key Price Levels for Bitcoin
Currently, Bitcoin is testing resistance near the 50-day moving average at $85,873. If short-term holders manage to maintain their positions, BTC could attempt a breakout towards the 200-day moving average at $95,476.
However, if increased selling occurs at these resistance levels, a correction towards the range of $82,500 to $83,000 could follow. Another key indicator is accumulation behavior. At present, the Accumulation/Distribution indicator is rising to 4.93 million BTC, signaling sustained demand.
Further Uptrend or Increased Volatility?
The growing activity of short-term holders could either support a continuation of the uptrend or trigger short-term fluctuations. The key factor will be how the market reacts to resistance levels. If demand remains high, Bitcoin could continue its upward trend. Otherwise, a stronger correction may be imminent.
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Our Assessment
Short-term holders are playing an increasingly important role in Bitcoin’s price development. Their behavior at current resistance levels will determine whether BTC continues to rise or undergoes a correction. Investors should closely monitor market reactions and watch for potential profit-taking.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $87,163.00 |
| 24h % | 3.50 % |
| 7d % | 4.52 % |
| 30d % | -9.57 % |
| 60d % | -14.84 % |
| 1y % | 35.75 % |
| Market Cap | $1,729,450,518,881.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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