Institutional investors have been accumulating coins for the second consecutive week—this round they bought 1,665 BTC. The purchase price from last week’s batch was higher than the current price, indicating that the current price has already fallen below the institutions’ recent accumulation cost. However, their overall holding cost is still far below the current price.
BTC is currently trading at 83,068, down 1.8% over the past 24 hours. The price has fallen below the recent accumulation level, but it is still above the overall cost line. Historically, this kind of structure most often corresponds to a period where institutions continue adding to their positions. The recent accumulation level represents short-term resistance, while the overall cost line acts as a medium-term support. If the price breaks below the recent accumulation level, it tends to buy in batches; as it approaches the overall cost line, it increases position size.
#BTC
BTC is currently trading at 83,068, down 1.8% over the past 24 hours. The price has fallen below the recent accumulation level, but it is still above the overall cost line. Historically, this kind of structure most often corresponds to a period where institutions continue adding to their positions. The recent accumulation level represents short-term resistance, while the overall cost line acts as a medium-term support. If the price breaks below the recent accumulation level, it tends to buy in batches; as it approaches the overall cost line, it increases position size.
#BTC