Over the weekend,
#Bitcoin traded sideways at around $90,000 with low volume, maintaining its position without significant corrections. This resilience at such a critical level reflects the underlying strength of the market and the positive sentiment surrounding Bitcoin's long-term trend.
Consolidation Range: $93,000 - $85,000
Bitcoin is currently trading within a consolidation range between $93,000 and $85,000. Price accumulation in this range could provide the momentum needed for the next move. Even a potential pullback to the $85,000-$83,000 zone is unlikely to disrupt the primary uptrend. Key support levels remain intact, signaling a healthy market structure.
#Binance240MUsers Spot CVD and Coinbase Influence
One of the main factors driving Bitcoin’s price to its current levels has been demand from Coinbase.
Last week, there were minor sales on Coinbase, but the impact was offset by significant buying activity on Binance.Notably, no substantial outflows have been observed from Coinbase, indicating continued confidence from institutional investors.Spot CVD (Cumulative Volume Delta) continues to rise, demonstrating ongoing buying pressure in the market.
#SOLWatch Positive Market Data
Key metrics supporting Bitcoin's uptrend include:
Retail Long Ratio: Remains at moderate levels, indicating that retail traders are not yet overly optimistic.Funding Rates: Normal levels suggest a balanced market without excessive leverage.Short Liquidations: These are being steadily cleared, paving the way for upward momentum.Whale Activity: Remains positive (+13), highlighting strong engagement from large investors.
Breaking the Downtrend and Cooling the Market
Bitcoin’s eight-month-long downtrend allowed the market to cool off and recalibrate expectations, creating a more stable foundation. This reset period has paved the way for a recovery phase that may lead to sustained growth.
Corrections: Minor pullbacks should be viewed as natural and healthy, reinforcing the overall positive direction.Risk Management: Investors should avoid emotional decisions and FOMO (fear of missing out) to maintain long-term profitability.
$BTC Conclusion: Bitcoin Poised for Continued Growth
On-chain data and market dynamics suggest that Bitcoin remains firmly in an uptrend. The $93,000-$85,000 consolidation range is providing the necessary foundation for further gains. The lack of extreme retail enthusiasm and consistent institutional involvement are encouraging signs for sustainable growth.
As the market stabilizes, this is an opportune time for investors to refine their strategies and maintain a disciplined approach. Bitcoin’s resilience at $90,000 demonstrates its strength and potential for future price surges. 🌟