Bitcoin has recently surpassed the 100,000 USD Threshold, indicating a favorable market sentiment. This rise in BTC price suggests increased Optimism among investors, contributing to market stability.
Netflow analysis reveals a decrease in selling pressure, leading to increased buying activity. This shift has resulted in a negative netflow, a typical sign of reduced selling and greater purchase volume. However, the critical resistance zone between 101,710.79 USD and 106,839.06 USD could prompt profit-taking.
Long-term holders remain optimistic as their positions increase, providing stability to the market. This uptick in long-term holder supply, coupled with negative netflow, may point towards the conclusion of the selling phase and open the door for a potential price surge.
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