#bitcoin
Bitcoin dipped below $84K: panic or just a breather before $100K? đâĄïžđ
After a rapid surge past $87,000, the market cooled off, and BTC retraced to the $83,800 range. But while "weak hands" succumb to panic, major players are quietly accumulating positions.
Why does the bullish trend remain intact? Three key arguments:
1ïžâŁ The institutional "green light"
Despite a $3,000 intraday drop, spot Bitcoin ETFs have posted gains for five consecutive days, attracting over $2.5 billion during this period. On September 21 alone, inflows totaled nearly $1 billion. Pension funds and hedge funds continue to actively enter the asset.
2ïžâŁ Supply shortage on exchanges
According to CryptoQuant, exchange reserves of BTC have fallen to a 4-month low (~2.7 million BTC). Coins are being moved en masse to cold wallets. Less BTC on exchanges means less selling pressure.
3ïžâŁ Whales are scooping up the market
Santiment analysts report that since mid-July, whales (holding 100â1,000 BTC) have purchased an additional 114,000 BTC (+2.22%). They now control 26% of the total supply. "Smart money" isn't wavering on its bets.
đ What do the charts say?
Support: A "double bottom" pattern has emerged on the chart, with the $82,500 level acting as a solid neckline (according to analysis by Ali Martinez). Strong trend signal: BTC has closed above the 365-day moving average (~$80,500) for the first time since March 2023. Historically (in 2019 and 2023), this has always preceded massive rallies.
â ïž Verdict: The current pullback looks like a classic shakeout before the next surge. The $100,000 target remains on the table. đŻ
Bitcoin dipped below $84K: panic or just a breather before $100K? đâĄïžđ
After a rapid surge past $87,000, the market cooled off, and BTC retraced to the $83,800 range. But while "weak hands" succumb to panic, major players are quietly accumulating positions.
Why does the bullish trend remain intact? Three key arguments:
1ïžâŁ The institutional "green light"
Despite a $3,000 intraday drop, spot Bitcoin ETFs have posted gains for five consecutive days, attracting over $2.5 billion during this period. On September 21 alone, inflows totaled nearly $1 billion. Pension funds and hedge funds continue to actively enter the asset.
2ïžâŁ Supply shortage on exchanges
According to CryptoQuant, exchange reserves of BTC have fallen to a 4-month low (~2.7 million BTC). Coins are being moved en masse to cold wallets. Less BTC on exchanges means less selling pressure.
3ïžâŁ Whales are scooping up the market
Santiment analysts report that since mid-July, whales (holding 100â1,000 BTC) have purchased an additional 114,000 BTC (+2.22%). They now control 26% of the total supply. "Smart money" isn't wavering on its bets.
đ What do the charts say?
Support: A "double bottom" pattern has emerged on the chart, with the $82,500 level acting as a solid neckline (according to analysis by Ali Martinez). Strong trend signal: BTC has closed above the 365-day moving average (~$80,500) for the first time since March 2023. Historically (in 2019 and 2023), this has always preceded massive rallies.
â ïž Verdict: The current pullback looks like a classic shakeout before the next surge. The $100,000 target remains on the table. đŻ
