Suliyat🎭
@hardeywumhi
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Bitcoin (BTC) Holds Above $90K: Profit-Taking Intensifies
Bitcoin realizes $5.42 billion in profits, despite rising sell pressure, with a Sell-side Risk Ratio of 0.524%.
Technical Analysis:
- Crucial support/resistance level: $89,200.
- Network activity: Uptick in new and active addresses.
- Zero balance addresses remain flat.
On-Chain Metrics:
- 307,000 addresses accumulated BTC at $89,200.
- Net inflows: $128.46 million (potential selling pressure).
- Consistent negative netflows (May-August): Institutional accumulation.
Market Sentiment:
- Market optimism (profits > losses).
- Caution advised due to profit-taking.
- Regulatory policies and national debt may impact BTC.
Potential Outcomes:
- Sustained price near $90,000.
- Short-term correction.
- Continued outperformance against traditional assets.
Bitcoin's resilience above $90,000, despite rising sell pressure, suggests market optimism. Investors should monitor network activity, profit-taking. 0 reply
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