#bitcoin
$BTC aims for new highs, but bulls face a major test đđ
BTCâs latest rally, fueled by news of the expansion of the US Treasuryâs bond buyback program and the largest short squeeze since 2019, has hit a strong resistance zone.
Glassnode analysts say that in order to restore the highs of the beginning of the year, Bitcoin needs to break through a key âsupply wallâ in the range of $81,000-$86,000.
đ Whatâs happening in the market:
De-leveraging: The short squeeze âburned outâ about 86% of liquidation clusters on its way, and open interest in futures fell by 11%.
Institutional demand: Spot BTC-ETFs in the US have been recording net capital inflows for 8 consecutive days (over $2.8 billion). Coins are being massively withdrawn from exchanges to accumulation wallets.
Why is $81Kâ$86K the decisive milestone?
â ïž Five critical factors are in focus in this corridor:
1. Breakeven: A large number of long-term holders are concentrated here, who can start selling in order to simply "go to zero".
2. Self-preservation: At the level of $80,800, a layer of coins that have never left cold wallets begins.
3. Hedging of option holders: Starting at $82,300, options market makers change their hedging tactics, which complicates further growth.
4. Dense liquidation shelf: In the range of $82,000â$86,000, there remains an accumulation of levels for liquidating shorts.
5. Order wall: The presence of large visible sell orders.
đŠ Key levels to watch:
đą A consolidation above $83,300 with continued support from ETFs would mean the market is successfully "absorbing" the wall of sellers.
đŽ A pullback to $62,900 would completely nullify the current recovery momentum.
$BTC aims for new highs, but bulls face a major test đđ
BTCâs latest rally, fueled by news of the expansion of the US Treasuryâs bond buyback program and the largest short squeeze since 2019, has hit a strong resistance zone.
Glassnode analysts say that in order to restore the highs of the beginning of the year, Bitcoin needs to break through a key âsupply wallâ in the range of $81,000-$86,000.
đ Whatâs happening in the market:
De-leveraging: The short squeeze âburned outâ about 86% of liquidation clusters on its way, and open interest in futures fell by 11%.
Institutional demand: Spot BTC-ETFs in the US have been recording net capital inflows for 8 consecutive days (over $2.8 billion). Coins are being massively withdrawn from exchanges to accumulation wallets.
Why is $81Kâ$86K the decisive milestone?
â ïž Five critical factors are in focus in this corridor:
1. Breakeven: A large number of long-term holders are concentrated here, who can start selling in order to simply "go to zero".
2. Self-preservation: At the level of $80,800, a layer of coins that have never left cold wallets begins.
3. Hedging of option holders: Starting at $82,300, options market makers change their hedging tactics, which complicates further growth.
4. Dense liquidation shelf: In the range of $82,000â$86,000, there remains an accumulation of levels for liquidating shorts.
5. Order wall: The presence of large visible sell orders.
đŠ Key levels to watch:
đą A consolidation above $83,300 with continued support from ETFs would mean the market is successfully "absorbing" the wall of sellers.
đŽ A pullback to $62,900 would completely nullify the current recovery momentum.
