- Exchange liquidity has taken a nosedive, but don’t worry, sellers are on a coffee break!
- Long-term BTC holders are hoarding like it’s the last cookie in the jar!
Ah, Bitcoin! The digital currency that has all the stability of a toddler on a sugar high. As of June, it seems our beloved BTC has decided to take a little breather, forming yet another range. The ambitious attempt to break past the $110.5k mark was thwarted, much like my attempts to diet, but fear not! The $104.8k support zone has been valiantly defended, like a knight in shining armor. ⚔️
Now, if we peer into the mystical 12-hour chart, we see a bullish breaker block (yes, that’s a fancy term) at $104.8k, which has been holding up like a stubborn old man refusing to leave his favorite chair. Fibonacci retracement levels have also been plotted, because why not add a little math to the mix? 📈
Keep your eyes peeled on the $104.2k and $102.5k levels, folks! Meanwhile, June’s monthly open and high are sitting pretty at $104.6k and $110.2k, respectively. If Bitcoin dips below that bullish breaker block at $104.8k, we might just be looking at a reset towards the $100k mark. Cue the dramatic music! 🎶
While the short-term price action resembles a rollercoaster ride with all its ups and downs, long-term holders are still clinging to their bullish beliefs like a cat to a sunny windowsill. This delightful phenomenon is known as “base-building,” where prices consolidate as long-term investors keep adding to their stash. 🐱
Bitcoin: The Consolidation Phase Before the Next Big Adventure
In a recent post on X (formerly Twitter, because why not change names like we change socks?), crypto analyst Axel Adler Jr. pointed out that there’s solid evidence of base-building happening. He noticed the average daily inflows of USDT and USDC to centralized exchanges. In December, these inflows were a whopping $131 billion, but by June, they had plummeted to a rather paltry $70 billion. Talk about a dramatic drop! 📉
This decline in stablecoin inflows suggests that the bullish momentum is cooling off faster than my enthusiasm for Monday mornings. The price action above $100k indicates that holders might be willing to sit tight and limit their selling, which is a bit like waiting for the perfect moment to pounce on a sale. 🛍️
Finally, the analytics wizards at CryptoQuant have observed a steady increase in the 30-day moving average of accumulator addresses. These addresses are like the hoarders of the Bitcoin world, accumulating BTC and “never engaging in spending transactions,” according to analyst Julio Moreno. Sounds like my kind of people! 😄
So, what does this all mean? We have a delightful cocktail of permanent holder demand, reduced selling on exchanges, and Bitcoin consolidating above the $100k psychological level. Together, they seem to be sending a strong signal that holders should brace themselves for much higher prices in the coming weeks. Buckle up, folks! 🚀
Read More
- Violence District Killer and Survivor Tier List
- All Data Pad Locations (Week 1) Destiny 2
- All Mafia The Old Country Returning Characters
- Top 8 UFC 5 Perks Every Fighter Should Use
- German Twitch streamer goes viral for playing Elden Ring & Street Fighter at a rave
- USD ZAR PREDICTION
- Dune: Awakening is Already Walking Back a Planned Change for the Next Update
- Prestige Perks in Space Marine 2: A Grind That Could Backfire
- Unleash Devastation: Top Rupture Teams to Dominate in Limbus Company!
- Silver Rate Forecast
2025-06-18 10:31