Bitcoin

<ul> 
 <li aria-level="1">Bitcoin’s price fluctuates between $53,500 and $58,900, indicating a stable trading range without clear dominance.</li> 
 <li aria-level="1">Accumulation trends have increased but have not significantly influenced Bitcoin’s market price or led to recovery.</li> 
</ul> 
Bitcoin’s current market behavior is characterized by oscillations within a defined price range of $53,500 to $58,900. This pattern reflects a state of equilibrium where neither buyers or sellers have clear dominance. 
The recent increase in <a href="https://www.ethnews.com/bitcoins-profitability-woes-miners-face-harsh-realities-as-prices-fluctuate/">Bitcoin accumulation activities</a> has yet to trigger a substantial upward movement in its price. This situation has led market observers to closely monitor for any signs of change that could indicate a future trend. 
<figure id="attachment_81848" aria-describedby="caption-attachment-81848" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-81848 size-full" title="PP-2-BTC-price" src="https://www.ethnews.com/wp-content/uploads/2024/07/PP-2-BTC-price-e1720828400515.png" alt="PP-2-BTC-price" width="1940" height="979">
 <figcaption id="caption-attachment-81848" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
Technical analyses reveal subdued buying pressure, as indicated by the On-Balance Volume (OBV), which aligns with a Relative Strength Index (RSI) below the midpoint of 50 following a rejection at higher price levels. This suggests that the buying strength necessary to sustain higher prices is lacking. 
ETHNews <a href="https://www.ethnews.com/bitcoin-poised-to-hit-100000-by-year-end-ethereum-also-set-for-record-highs/">further data points</a> reveal that the influx of coins into the market has not significantly altered the overall trading volume or affected the market’s stability.&nbsp; 
<figure id="attachment_81852" aria-describedby="caption-attachment-81852" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-81852" src="https://www.ethnews.com/wp-content/uploads/2024/07/PP-2-BTC-hyblock.png" alt="PP-2-BTC-hyblock" width="1866" height="1050">
 <figcaption id="caption-attachment-81852" class="wp-caption-text">
 Source: Hyblock
 </figcaption>
</figure> 
The analysis of liquidation events and market resistance levels suggests that while the lower price threshold of $52.1k may act as a new focal point for market activities, there is potential for further decline if investor sentiment weakens, possibly extending down to around $46k. 
<figure id="attachment_81856" aria-describedby="caption-attachment-81856" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-81856" src="https://www.ethnews.com/wp-content/uploads/2024/07/PP-2-BTC-santiment-compressed.png" alt="PP-2-BTC-santiment-compressed" width="2048" height="693">
 <figcaption id="caption-attachment-81856" class="wp-caption-text">
 Source: Santiment
 </figcaption>
</figure> 
In this environment, investors might consider <a href="https://www.ethnews.com/surge-in-bitcoin-balances-on-exchanges-signals-active-short-term-trading/">strategic entries</a>, as lower price points could present buying opportunities should the market stabilize or begin to ascend again. 
The post <a href="https://www.ethnews.com/how-accumulation-and-selling-pressure-influence-bitcoins-price-fluctuations-and-investor-behavior/">How Accumulation and Selling Pressure Influence Bitcoin’s Price Fluctuations and Investor Behavior</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

How Accumulation and Selling Pressure Influence Bitcoin’s Price Fluctuations and Investor Behavior

ETHNews

دیگر آرٹیکلز 12 جولائی، 2024 پر پبلش کیے گئے ہیں

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