Bitcoin Recovers as Demand Grows, Eyes $95K
The Most Important Points at a Glance
Bitcoin is showing signs of recovery as selling pressure eases. The 24-hour net taker volume indicator has turned positive, indicating stronger buying demand. However, long-term data still shows a dominant selling side. The Bitcoin price has crossed the 50-day moving average and could rise toward $95,000 if buying momentum continues.
24-Hour Net Taker Volume Signals Uptrend
The net taker volume measures the activity of aggressive buyers and sellers. In recent weeks, this indicator was predominantly negative, indicating selling dominance. Now, the picture has changed: the volume has turned positive, suggesting that buyers are regaining control.
Historical data shows that a shift from negative to positive net taker volume often coincides with a Bitcoin price increase. The current rise from below $80,000 to over $87,000 fits this pattern.
Long-Term Selling Dominance Persists
While short-term data indicates a positive development, the 30-day net taker volume remains negative. This suggests that the market is still influenced by previous selling phases.
Only a sustained green phase in this indicator would signal a lasting trend reversal. Until this happens, caution is advised, as renewed selling pressure could emerge at any time.
Bitcoin Price Surpasses 50-Day Average
Bitcoin has broken through the 50-day moving average at $85,017 and is currently trading at $87,134. The Relative Strength Index (RSI) is at 58.35, approaching the bullish zone without being overbought.
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If Bitcoin surpasses the resistance of the 200-day moving average at $94,866, a rise into the $95,000 to $100,000 range could follow. However, failing at this level could result in sideways movement or a decline.
Outlook for the Coming Week
Whether the uptrend continues depends on the stability of buying demand. Currently, the risk-reward ratio favors a moderate recovery. The key factor will be whether the net taker volume remains positive and Bitcoin stays above the 50-day moving average.
A rise above $95,000 could unlock further upside potential. However, if Bitcoin falls below $85,000, renewed selling pressure could be triggered.
Our Assessment
Short-term signals indicate a recovery, but the long-term selling dominance calls for caution. Bitcoin could continue to rise if buying momentum persists. However, investors should be prepared for potential setbacks, especially if key resistance levels are not breached.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
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| Further practical applications | |
| Price | $88,260.00 |
| 24h % | 1.09 % |
| 7d % | 5.72 % |
| 30d % | -7.72 % |
| 60d % | -15.56 % |
| 1y % | 24.46 % |
| Market Cap | $1,751,383,104,615.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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