#Bitcoin Market Analysis: Bull Run Under Pressure
Key Points:
1. Resistance from Profitable Positions:
A significant number of Bitcoin holders are currently in profit, with unrealized gains averaging over 30% at a price of $111,000.
Historically, when profits reach this level, many investors begin to take profits, creating selling pressure that can halt or reverse price advances.
2. Slowing Whale Accumulation:
Whale open interest has increased by only 2.8% recently, suggesting reduced confidence or caution among large holders.
A slowdown in whale accumulation often precedes consolidation or corrections, as large investors typically lead market trends.
3. Demand Growth Near Peak Levels:
Estimated demand for Bitcoin grew by 229,000 coins in the past 30 days, approaching the December 2024 peak of 279,000 coins.
Such levels historically indicate temporary demand exhaustion, potentially leading to a pause in price growth.
4. Technical Breakdown Warning:
Bitcoin has fallen below support and now faces resistance from profitable holders.
If the price fails to reclaim or sustain levels seen in December 2024, analysts warn of a “deep pullback.”
Conclusion:
While long-term fundamentals remain intact, short-term indicators suggest a pause or correction is likely. Investors should monitor whale behavior, profit-taking activity, and whether Bitcoin can reclaim the December 2024 highs. A failure to do so may validate the bearish outlook and trigger further downside pressure.
