Bitcoin Approaches $75K as ETFs See $833M Inflows and Major Holders Accumulate $2.1B
- Bitcoin Price Surge: Bitcoin successfully breached the $73,000 mark after three previous rejections, peaking at $74,484 on Monday, marking its strongest performance since the escalation of tensions with Iran in late February, reflecting market optimism regarding potential diplomatic progress.
- Strong ETF Inflows: Bitcoin ETFs recorded $833 million in net capital inflows over the past week, indicating a significant increase in risk appetite among market participants amid preliminary ceasefire progress with Iran and weaker-than-expected US consumer spending figures.
- Large Holder Accumulation: Addresses holding between 1,000 and 10,000 BTC accumulated 30,000 BTC in March, valued at approximately $2.1 billion, demonstrating increased confidence among major holders, who now possess 21.3% of the circulating supply.
- Market Liquidation Dynamics: Approximately $530 million in cryptocurrency liquidations occurred, predominantly affecting short sellers, highlighting the market's volatility and strong rebound in the short term, which may face further resistance in the near future.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0549 | 0.0577 | 0.0602 | 0.0629 | 0.0654 | 0.0681 | 0.0706 |
| Fibonacci | 0.0577 | 0.0597 | 0.0609 | 0.0629 | 0.0649 | 0.0661 | 0.0681 |
About MAJOR
About the author
