Bitcoin poised for recovery as investor confidence grows
– Bitcoin (BTC) could rise again in the coming months after recently hitting a local low at around 66,000 USD.
– An increase in USDT (Tether) loans suggests that investors want to buy BTC during price dips.
– Key technical indicators such as the Short-Term Holder MVRV and SOPR signal a potential trend reversal.
– The liquidity distribution shows that the resistance zone lies between 63,000 and 66,000 USD, with the next target at 70,000 USD.
Rising USDT Loans: A Positive Signal for Bitcoin?
In recent weeks, an interesting trend has emerged: more and more traders are borrowing USDT (Tether) to buy Bitcoin during price dips. This suggests that many investors are betting on a soon-to-come recovery in BTC price. This shift from Bitcoin loans to USDT loans during market corrections is an indicator that confidence in an imminent price increase is growing.
Bitcoin Breaks Market Structure
The Bitcoin price recently broke through an important market structure, forming a higher low in the process. This happened after a phase of long liquidations, where many traders were forced to close their positions. Now, the price seems to have reached a local bottom, paving the way for a possible upward movement. However, to confirm the current uptrend, Bitcoin must overcome the 200-day line (200MA) and break the highs of the past week.
Key Indicators: MVRV and SOPR
Two other key metrics, the Short-Term Holder MVRV (Market Value to Realized Value) and the SOPR (Spent Output Profit Ratio), also point to a potential recovery. Both indicators are approaching the neutral “1” line. If the price bounces off this line, it could confirm the start of a new uptrend. This would be particularly significant for short-term traders who could benefit from such a movement.
Liquidity Suggests Upward Movement
A look at the liquidity distribution shows that a large amount of liquidity has accumulated above the current Bitcoin price. This liquidity could pull the price upwards, as the market tends to move towards such zones. Particularly between 63,000 and 66,000 USD, there is a strong resistance area. If Bitcoin breaks through this area, a so-called “short squeeze” could follow, pushing the price towards 70,000 USD.
Our Assessment
Current market conditions suggest that Bitcoin could see a recovery in the coming weeks. The combination of rising USDT loans, a stable market structure, and positive technical indicators points to a bullish development. Traders positioning themselves during this phase could benefit from a potential rise to 70,000 USD. However, the market remains volatile, and it’s important to closely monitor further developments.
Sources:
– Hyblock Capital
– TradingView
– The Bitcoin Lab
– Coinglass
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Price | $96,134.00 |
| 24h % | -1.40 % |
| 7d % | -5.50 % |
| 30d % | -2.82 % |
| 60d % | 43.27 % |
| 1y % | 118.54 % |
| Market Cap | $1,904,687,033,915.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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