Recently, there are several key movements in the Bitcoin market worth paying attention to:
First, a large amount of institutional funds are pouring into Bitcoin ETFs. Although buying pressure is strong, it is still difficult to break through the key resistance level of $105,000. Currently, the circulation of Bitcoin is rapidly decreasing, especially the sell orders below $101,000 are significantly reduced, which may be an important signal.
Since mid-April, Bitcoin ETFs have been continuously attracting capital and have become the main inflow channel for digital currency funds. Institutional investors re-entering the market has resulted in considerable net inflows, and this wave of buying has supported the steady rise in Bitcoin prices. Recently, net inflows have approached $1 billion, but it is important to note that if this buying momentum weakens, prices are likely to pull back.
In terms of price trends:
Bitcoin has recently broken through after oscillating in the ranges of $83,000-$86,000 and $93,000-$96,000. According to this pattern, the next stop may test the critical area of $101,000-$105,000. Personally, I believe that if it can hold above $105,000, it is very likely to initiate a new round of increases. However, if it falls below $101,000, caution should be exercised as a significant pullback could occur.
Regarding market liquidity:
There are fewer and fewer Bitcoins available for sale in the market, especially large sell orders have significantly decreased. If this supply tightness continues while demand remains strong, there may be a price surge in 2025. However, data from the futures market shows that there are still many leveraged long positions below $101,000, and if prices fall below this level, it could trigger a chain liquidation, leading to a short-term crash.
Overall, the market is currently at a critical position: an upward breakout could initiate a new bull market, but once it falls, it could also trigger severe adjustments. It is recommended to pay close attention to the breakout direction of the $101,000-$105,000 range, as this is likely to determine the upcoming medium-term trend.
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