Bitcoin has been faced with volatility and pressure pressure since the beginning of February, resulting in altcoins and memes parts while the lower price action takes up the market. Bulls show signs of exhaustion and analysts call for a wider correction, which suggests that the BTC could see more decline before finding solid support.
With the action of prices which has trouble recovering the key levels, the feeling of the market remains uncertain. The key data from Glassnode reveal that the average funding rate of 7 days has been down constant since the end of January, now to 0.004%, an astounding drop of 85%compared to the December peak of 0.026%. This sharp decrease indicates that the demand for long -speaking positions is discoloration, the sign that the speculative appetite on the market is weakening.
Without a renewed lever and a purchase pressure, the action of bitcoin prices can remain jerky or corrective in the short term. While long -term fundamentals remain optimistic, short -term perspectives suggest that BTC could see an additional drawback before significant recovery.
Investors are now watching for key support levels that could stabilize the market and offer an opportunity for the next leg. Until then, uncertainty and prudence dominate the cryptographic landscape while Bitcoin sails in this phase of consolidation.
Bitcoin demand for long heard fading
The Bitcoin price currently oscillates around the $ 96,000 bar, Bulls find it difficult to recover the level of $ 100,000 and do it as solid support. The market remains under pressure, the bears keeping the BTC below critical supply areas, leaving analysts concerned with new short -term decreases.
Key Glassnod’s key measurements shared on X provide an overview of this lower feeling. The average funding rate of 7 days has regularly dropped since the end of January, now at 0.004%, a significant drop of 85%compared to its December 0.026%summit.
This sharp decrease in funding rates indicates that the demand for long -speaking positions of leverages is deciding, and the speculative appetite on the market is weakening. Without a renewed lever effect of traders, the action of Bitcoin prices should remain agitated or even become more corrective in the coming weeks.
This feeling of weakening is aligned with the difficulties with which Bitcoin is faced with critical levels. The bulls must recover and hold the mark of $ 100,000 to change the story and regain control. However, repeated violation of key supply areas have embraced the bears, leaving the market in a state of uncertainty.
If Bitcoin does not hold above the current levels, a drop in the demand area of $ 90,000 could be on the horizon. Conversely, a successful push above $ 100,000 could trigger a renewal of optimism and pave the way to the BTC to challenge the heights of all time again. Until then, the market trajectory remains uncertain, driven by the discoloration of the speculative interest and the prudent feeling of investors.
BTC Price struggle below $ 100,000
Bitcoin is traded at $ 96,500 after the closing at the same price for three consecutive days, highlighting the indecision on the market. The bulls struggled to push the price above the critical bar of $ 100,000, a level that signals the force and could rekindle the bullish momentum. On the other hand, the Bears did not take control either, BTC holding stable above the support level of $ 96,000. This rope shot leaves bitcoin to a central point where the following movement could define the short -term trend.
If BTC manages to stay above $ 96,000 in the coming days, the next step for bulls is to recover the $ 100,000 bar and keep it in support. The achievement of this would not only point out a recovery, but also prepared the ground for another attempt to perts to all time. However, the fact that the fact that the fact that not to be directed exceeded 100,000 could cause an increase in momentum and increased sales pressure.
In such a scenario, a drop in the $ 90,000 demand area becomes a probable result. The level of $ 96,000 now acts as a key battlefield for bulls and bear, with its result to dictate the Bitcoin trajectory in the short term. Until then, indecision dominates the market, keeping investors on board.
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