Bitcoin Holds Steady with Market Cap of $3.03 Trillion, Signaling Potential Revival
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Stable Price Range: Bitcoin is trading between $85,000 and $90,000, indicating a delicate balance between buying and selling forces in the market, which suggests a potential directional move that could attract more investor attention if maintained.
- Decreased Selling Pressure: Long-term holders have shown reduced selling actions, with only 221 BTC sold in the past day, indicating minimal new sell-offs and potentially creating conditions for strategic accumulation, thereby enhancing market stability.
- Market Dominance: With a market capitalization of approximately $3.03 trillion, Bitcoin maintains a market share between 58% and 60%, reflecting sustained investor preference for Bitcoin, which may lead to its dominant position in any future market recovery.
- Reduced Liquidity: Bitcoin exchange reserves have dipped to about 2.5 million BTC, reducing immediate selling supply pressure, and if this trend continues, it could further drive price increases and attract more investors.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
