Bitcoin miners are gradually offloading their holdings due to market uncertainty regarding BTC’s sustainability above 100,000 USD. The recent upward shift in selling pressure is suggestive of a potential price correction, especially since the Miners’ Position Index has risen sharply.
Currently, BTC trades at 104,990 USD, precariously positioned above the 103,952 USD support level. If this support fails, further drops to 101,520 USD or even 97,658 USD may occur. However, an improvement in market sentiment could drive BTC toward 106,295 USD.
Leave a Reply