Analysts point out that $BTC exhibits characteristics of a "slow bull accumulation"
The Bitcoin market is currently in a critical accumulation phase, and the positions of short-term speculators reveal important signals.
According to on-chain data analysis, the proportion of active traders holding Bitcoin for 1-3 months who are currently at a loss is only 8%, and the average loss over the past month is still expanding to -2%.
Historical data shows that this type of short-term capital usually only sells off in large volumes when profits exceed 40%, and currently, there is still a considerable distance to this critical point.
This position structure indicates that the market has not seen panic selling pressure, which instead retains momentum for future upward movement. It is like boiling water when the heat reaches the critical point; as long as there is no unexpected cooling, steam can continue to produce thrust.
It is noteworthy that this type of short-term capital has triggered collective selling three times at the 40% profit line during the 2024 bull market, each time leading to a price correction of 5-8%.
The current market shows characteristics of a "slow bull accumulation": net inflows into exchanges have decreased for three consecutive weeks, indicating that large capital is still observing from the sidelines.
However, on-chain data shows that long-term holders have stopped selling, and miner addresses have seen continuous accumulation. This delicate balance is like a tug-of-war entering a stalemate phase; any change in either side's strength could trigger a trend reversal.
Pay close attention to the support level at 93k; if it effectively holds, it may initiate a new round of accelerated trading.
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