In recent weeks, Bitcoin (BTC) has caught the attention of investors and analysts due to a key data point: more than 85% of the coins in circulation are in profit. This means that most holders of BTC in their portfolios bought at lower prices than the current value (around $94,270 at the time of writing).
Why is This 85% Important?⏳
Historically, when such a high percentage of the Bitcoin supply is in profit, it tends to be a medium-term bullish signal. This reflects confidence in the asset and the inflow of fresh capital. However, experts warn that in previous cycles, similar levels have preceded phases of euphoria (where the price rises rapidly) followed by corrections (temporary declines).
In simple words: the market could be close to a point of maximum optimism, but also at greater risk.
Bitcoin in Numbers: Key Resistance and Market Strength📊
- Immediate Resistance: BTC struggles to break above $95,971, a technical level that acts as a temporary "ceiling". If it breaks this, the next target would be $98,983.
- RSI at 68.21: The Relative Strength Index (RSI), which measures whether an asset is overbought or oversold, suggests that Bitcoin still has room to rise before being considered overbought (the critical threshold is 70).
⚠️ But Attention: If sentiment turns bearish, it could retreat towards $91,851, a key support.
What Does This Mean for Investors?🌐
1. Opportunity with Caution: The spot market (direct purchase of $BTC ) continues to show solid demand, supporting the current price. However, it's crucial to avoid impulsive decisions.
2. Monitor the RSI: If it exceeds 70, it could indicate that Bitcoin is overbought and ready for a pause or correction.
3. Levels to Follow: Breaking $95,971 would be a bullish psychological boost; losing $91,851 could attract more selling.
Final Reflection🚨
Bitcoin is in a technically delicate moment. Although on-chain data and the RSI point to strength, history reminds us that markets do not rise in a straight line.
