Bitcoin $96,845.3 The price remained constant at the level of $ 96,500 for the last four days. Market participants are experiencing uncertainty in the fact that the price cannot break the resistance levels and the preservation of support levels. Global economic conditions and trade tensions affect investor sensitivity. Analysts say that this price stagnation can increase short -term risks in the market.
Miner Sales and On-Chain Data
Capriole Investments Founder Charles Edwards draws attention to the possibility of a significant sales of Bitcoin miners. Edwards says that the stagnation in Bitcoin price may be associated with miners’ portfolio balancing strategies. It is thought that these strategies can put pressure on the market in the short term.
The decline in miner’s reserves reached remarkable dimensions. According to Mine Reserves Metric, miners sold approximately 30,000 BTC between 4-8 February. With these sales, the reserve amount fell from 1.94 million BTC to 1.91 million BTC. This can increase the price of market supply and cause short -term pressure on the price.
With the emergence of the Hash ribbon signal, it is made comments between miners. Although this signal has been associated with the periods in which opportunities occurred in the past, it is stated that it should be evaluated more carefully.
Price stasis and technical indicators
Bitcoin price continues to move in a narrow range. The price movement, which is trapped in the $ 95,000 to $ 100,000 band, leads to a cautious attitude among investors. The fact that the price cannot exceed $ 97,000 shows that downward risks may continue. However, if the support levels are preserved, the possibility of recovery is still possible.
In the light of technical indicators and On-Chain data, investors carefully follow Bitcoin’s future aspect. While short -term investors are influenced by fluctuations, long -term investors continue to look for purchasing opportunities. The effect of macroeconomic developments and trade tensions continues to put pressure on the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
