bullish

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s market balance is disturbed due to excessive long/short positions, indicating a potential correction.</li> 
 <li>Geopolitical tensions and a lack of growth in active cryptocurrencies contribute to a downward trend in Bitcoin’s price.</li> 
</ul>  
<h2 id="bitcoin-s-market-unsettled">Bitcoin’s Market Unsettled</h2> 
<p>The larger cryptocurrency market is seeing a decline, with <a href="https://coineagle.com/price/bitcoin/">Bitcoin (BTC)</a> leading the way. Bitcoin hit a high of $66k in late September but was valued at just over $60k at the time of writing.</p> 
<p>Data from Hyblock Capital indicates that Bitcoin’s market balance is disturbed. This disturbance is due to excessive long or short positions, which often indicate potential market corrections or trend reversals.</p> 
<h2 id="short-term-holder-supply-and-active-cryptocurrencies">Short-Term Holder Supply and Active Cryptocurrencies</h2> 
<p>If short-term investors reduce their supply by 80,000 BTC, it could lead to a new bullish trend. However, the recent influx of supply on exchanges has put downward pressure on Bitcoin’s price.</p> 
<p>The number of active cryptocurrencies has also stagnated since the end of 2021, indicating a reduced interest in launching new projects. This, along with market weakness and regulatory pressures, suggests that Bitcoin could be headed for a correction.</p> 
<h2 id="global-tensions-and-whale-activity">Global Tensions and Whale Activity</h2> 
<p>Current geopolitical tensions, such as the conflict between Iran and Israel, are influencing cryptocurrency prices. Historical data shows that Bitcoin prices often drop initially during real-world conflicts, followed by recoveries.</p> 
<p>Despite market volatility, both new and old whales remain unfazed. The flow of Bitcoin into custody wallets indicates that permanent holders are increasing their stakes, supporting a bullish outlook for Bitcoin in the long run.</p> 
<p>CryptoQuant data reveals that older whales have been seeing minimal returns, while newer whales are aggressively accumulating Bitcoin. This activity could potentially help Bitcoin maintain its value above the $60k level. However, the unpredictable nature of crypto markets makes this uncertain.</p>

Unpacking Bitcoin’s Market Disruption – Pivotal Insights on BTC’s Lowest Ebb

Table of Contents

CoinEagle.com

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