Bitcoin Holders Face Losses Surpassing Gains
- Losses Surpass Profits: Glassnode data indicates that over 10.5 million BTC are currently at a loss, marking the first time in this market cycle that the quantity of Bitcoin in loss has exceeded that in profit, reflecting that many investors purchased Bitcoin at prices higher than its current value.
- Market Cycle Warning: Historical analysis shows that moments where losses surpass profits typically coincide with deep bear markets and may signal market bottoms; however, experts caution that the duration of these bear phases can vary significantly, with the 2015 bear market lasting nearly a year and the 2019 phase around six months.
- Key Price Levels: Bitcoin's recent decline has brought it close to the critical support level of $61,300, which aligns with the 200-week moving average; breaking below this level could lead to a drop to a more pivotal support zone around $54,000, consistent with current realized prices.
- Cautious Market Sentiment: Given ongoing volatility, market participants are adopting a cautious stance, closely monitoring on-chain and technical indicators for signs of recovery, as they weigh whether to absorb losses or endure further declines.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC 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, BTC 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 $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 42853.01 | 50991.96 | 57997.76 | 66136.71 | 73142.51 | 81281.46 | 88287.26 |
| Fibonacci | 50991.96 | 56777.255 | 60351.416 | 66136.71 | 71922.005 | 75496.166 | 81281.46 |
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