cryptd.in

另类 LinkedIn 适合加密人才

Bitcoin Pullback Sparks Fears of Market Exhaustion – Long Cooling Ahead?

-

由

cryptd.in
于

Bitcoin’s recent pullback is a textbook “buy the rumour, sell the news” reaction. But Glassnode said that the broader context reveals a market showing signs of exhaustion.

On-chain data, for one, shows that the current 12% drawdown is modest relative to historical cycles, but it comes on the heels of massive capital inflows.

ETF Slowdown + Heavy Profit-Taking

Since November 2022, Glassnode has found that three major waves of investment have lifted Bitcoin’s Realized Cap to $1.06 trillion, which is nearly $678 billion in net inflows, and is almost 1.8 times larger than the prior cycle.

These waves have not only driven price appreciation but also triggered repeated profit-taking events, with the Realized Profit/Loss Ratio indicating cyclical peaks each time over 90% of coins moved realized gains.

Besides, long-term holders have realized 3.4 million BTC and have already surpassed previous cycles, which highlighted the “heavy distribution and maturity of the rally.”

ETFs and other regulated trading vehicles, which historically absorbed supply and stabilized price, have slowed significantly in the wake of macro events, including the FOMC, which has left the market vulnerable.

During this period, LTH selling surged to 122K BTC per month, while ETF netflows dropped to near zero. Such moves can easily tip in favor of downside pressure.

Spot markets bore the immediate impact, as seen with volumes spiking after forced liquidations swept through thin order books, while futures experienced sharp deleveraging and options markets amidst increased risk sentiment through skew expansion. These factors collectively indicate that short-term liquidity is dominating price action, rather than fresh capital entering the market to support momentum.

“Unless demand from institutions and holders aligns again, the risk of deeper cooling remains high, highlighting a macro structure that increasingly resembles exhaustion.”

These obvious signs of exhaustion haven’t stopped certain cohorts of whales from seizing the pullback to expand their holdings.

Whale Accumulation Amidst Market Fatigue

Over the past seven days, whales, wallets holding 100-1,000 BTC, have accumulated roughly 30,000 BTC. On-chain transfers surged from 440,000 to over 770,000 BTC during the decline, while exchange outflows indicated strategic storage rather than selling. Short-term holders are now near loss territory, which could mean that local lows may be forming.

Sitting at the 21-week EMA near $109.5K, Bitcoin is testing key support, suggesting the current whale-driven accumulation could be laying the groundwork for a potential reversal.

Meanwhile, analysts at Bitunix said that key liquidity support sits at $108K. They, however, warned that a breakdown could test the $106K-$107K range. On the upside, $110K-$112K represents a “stop-loss cluster for longs,” while $116K is the major resistance that would require clear capital inflows to break.

职位 Bitcoin Pullback Sparks Fears of Market Exhaustion – Long Cooling Ahead? 首次出现在 加密土豆.

评论

发表回复

您的邮箱地址不会被公开。 必填项已用 * 标注

最新信息

热门类别

zh_CN 简体中文
zh_CN 简体中文 en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

搜索网站

热门故事

标签

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (383) #BitcoinETF (3) #itcoinFundamentals (1) # 比特币处理 (1) # 比特币价格 (5) # 比特币价格水平 (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #itcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTC 收购 (1) 1TP5 看涨预测 (1) #BullishSentiment (1) #C 中国矿业 (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (70) #ogecoinGains (1) #ogecoinVolume (1) #DutchCourt (2) #ECommerce (1) #El萨尔瓦多比特币 (1) #E以太坊 (64) #EthereumPain (1) #E以太坊价格 (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #F 财务影响 (1) #F 财务隐私 (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investment (1) #InvestmentLoss (1) #JapaneseFirm (1) #L LegalAction (1) #L 法律影响 (1) #Legislation (1) #LightningNetwork (1) #M 市场分析 (3) #M 市场监测 (1) #M 市场预测 (1) #M 市场预测 (1) #M 市场投影 (1) #M 市场支持 (1) #M 市场波动性 (1) #M 婚姻 (1) #MemeCoin (5) #MemeCoins (2) #Miner 盈利能力 (1) #M 洗钱 (2) #MtGox (3) #朝鲜加密货币 (1) #诺沃格拉茨预测 (1) 1TP5价格里程碑 (1) #P 价格预测 (2) 1TP5价格问题 (1) #PriceSurge (1) #PrisonSentence (1) # 量化分析 (1) #R 监管压力 (1) #SECA Anti-Crypto (1) #ShibaInu (5) #SocialBuzz (1) #T 技术分析 (1) #Toncoin (3) #T 龙卷风现金 (3) #T 龙卷风现金发展项目 (1) #T 龙卷风现金开发者 (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XRPPrice (1) #XRPupswing (1)

实用链接

我发现了一些有用的链接，希望与大家分享。