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Bitcoin is still admired as one of the best performance among large assets, climbing approximately 25 % last month. More than that, the Bitcoin price managed to stay over the six -numbers rating threshold despite the slow market conditions during the past week.
After a few weeks of strong bullish work, it seems that the main cryptocurrency has settled within the scope of uniformity of $ 102,000 – $ 105,000. Despite the screaming at the market level to restore its highest level ever, the bitcoin price is currently facing a degree of frequency among investors.
BTC price may be preparing for sale
In the May 16 publication on the social media platform X, the Analysis Company on the series Alphractal Make up The price of bitcoin is at a turn, which may be very important for its future path. This evaluation depends on the series on the long -term motivation, a measure that measures the rate of capitalization achieved for long -term holders.
For clarity, a positive value of CAP signals is purchased in the long term that long -term investors buy more BTC at a higher value. This trend is usually an indication of the rise or start of the bull market when the owners are in the long run in the accumulation position.
On the other hand, when the CAP Dipulse scale that has been achieved in the long run is negative, it means that long -term holders are emptying their coins at lower prices than cost rules. This usually appears in late bull cycles and early bear markets, where in long -term investors distribute their assets.
Moreover, the long -term CAP impulse index offers an insight into the dynamics of supply and demand in Bitcoin, highlighting the main support and resistance areas. As shown in the graph provided by Alphractor, the price of bitcoin is at a critical point characterized by a horizontal line known as the frequency level.
Source: @Alphractal on X
The Market Intelligence Company indicated that the outbreak of the long -term driving scale can prove a long -term health axis, indicating the continuation of strong demand and potential prices.
However, Alphractor has linked historical importance to this level, noting that the long-term motivation scale was rejected in the frequency area before the COVID-19 emptying in March 2020.
Bitcoin price at a glance
As of writing these lines, the BTC price sits about 103,713 dollars, which reflects only a 0.6 % increase during the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Distinctive image from Istock, tradingvief chart
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