Bitcoin found an ascending dynamic, recently exceeding $ 110,000 and was approaching its historical summit of $ 111,970. The latter has monitored for several weeks of trading in a narrow range of between $ 100,000 and $ 110,000, indicating the restored power of buyers after the consolidation period.
In short
- Bitcoin exceeded $ 110,000, and after weeks of stable trading, almost $ 111,970 was approaching its highest history.
- The price came out of the downhill channel and signaled the potential for monitoring ascending dynamics.
- The index of fear and greed today went from 63 to 73 yesterday, which reflected the growing bull’s feeling.
Bitcoin is released and exceeds the trend down
Bitcoin was limited in a channel declining for several weeks – a graphic motif marked with peaks and cavities in a gradual decline. This structure often signals a short -term decreasing feeling. However, the cryptocurrency has now crossed the upper limit of this channel, often perceived as a sign of a bull change.
Mac Market analyst expressed great confidence in the strength of the bitcoin structure, although prices have briefly dropped around $ 102,000. They say that a general perspective suggests a thrust of around $ 130,000 probably by the end of the year. The MAC view is supported by increasing dynamics both in the market structure and investors’ behavior.
Intensifying exchanges and a strong feeling that testifies to renewed trust
A remarkable increase in online discussions has been observed. Bitcoin conversations go up on platforms like X, telegram and several other communities. The Study Company Santiment Market The Company Study has followed this increase and notes that many private investors seem to be valid.
This peak of attention is also reflected in the feeling of data. The index of fear and greed, which was 63 years old yesterday, has now climbed to 73 years. This placed the market in the “greed” phase, which generally indicates high trust and increases the expectations of prices.
Another sign of growing trust comes from long -term holders, those who have maintained bitcoins for more than 155 days. According to Glassnode, they now control a record of 14.7 million chips. Many of them have been purchased around $ 100,000 and remain intact, pointing to strong beliefs and little interest in selling, even with an increase in prices.
The institutional interest was the main factor of bitcoin stability during its recent consolidation and continues to support a recent break. Constant flows in Bitcoin ETF in US cash and solid volumes of trading gathered.
Bitfinex notes that the next Bitcoin Movement will depend on economic factors and supported institutional purchases, especially through the ETF.
So what are the engines?
- Bitcoin ETF registered 14 consecutive days of net records at the US cash desk.
- The total institutional investment was reached 27 June $ 4.63 billion.
- Glassnode shows that the offer of holders of the long -term period has reached a historical higher and showed growing market beliefs.
Resistance continues
Despite the positive dynamics, not everyone is fully convinced. Analyst David Watt notes that bitcoins, although growing, have not yet made a clear turning point in its wider lower structure.
He emphasizes that the level of $ 112,000 has proved to be a strong barrier in the past. If the market does not exceed this threshold again, it would not be surprising to see the download of $ 100,000.
This means that the general feeling remains positive. Some analysts evoke July as a potentially strong moon for bitcoins and seem to support this view of this view. With the growing interest of private investors and institutions and improving technical indicators, many believe that the market could prepare for a significant new movement.
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IFOLOWA specializes in writing and marketing Web3, with more than 5 years of experience in creating bright and strategic content. In addition, it trades in crypt and is qualified in performing technical, basic and chains.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.