All lights are red for Bitcoin – Market Check
Will the price of Bitcoin reach a new all-time high? The price of Bitcoin has been stagnant over the past few days, and there are indications that caution is necessary until it clearly breaks its all-time high. In fact, the supply held by short-term bondholders is in free fall, and one indicator suggests overheating after several weeks of increases. Will the price of Bitcoin regain its strength before heading upward again, or is it forming a new peak above $100,000?
The goal is to analyze the situation from a technical perspective and through indicators, in order to determine whether the price of Bitcoin is still in good shape to develop into an upward trend, or whether a bearish market is imminent.
The pace of Bitcoin accelerated after surpassing a key threshold on the chain.
The price development of Bitcoin and the average purchase price for holders of the currency in the short term, in fact, these investors tend to be optimistic as long as their purchases are positive. On the other hand, caution should be exercised if prices drop below the realized price for short-term holders. In February, losing this level on the chain led to bearish volatility and a drop below $80,000.
But thanks to the recent recovery, the situation is positive again for the king of cryptocurrencies:
