Bitcoin acts at a crucial level where the previous all-time highlights, set in January and May, are now being tested as support. This zone has become a critical battlefield for bulls and bears, while fear spreads through market sentiment. Many investors cancel for further falls, afraid that a break among these levels could accelerate the downward momentum.
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Fresh data about the chains adds these concerns to these concerns. According to cryptoonchain, insights from cryptoquant cards reveal a sharp decrease in the 30-day advancing average of the Taker Buy/Sell Ratio. These important statistics, which follows or aggressive buyers or sellers dominate the ordering book, has fallen to the lowest point since May 2018. The drop indicates that sales pressure is overwhelming buyers, even if Bitcoin is above its former record highs.
What makes this development even more striking is the comparison with November 2021, when Bitcoin last all time before he enters a brutal bear market. At the time, the ratio was remarkably higher than now, which suggests that the market is now confronted with an even greater sales dominance. With sentiment fragile and pressure mounting, the ability of Bitcoin to retain these crucial levels can determine the next phase of the cycle.
Bitcoin -Details reveal a strong sales signal
Emphasize the latest cryptoonchain report with regard to data from cryptoquant’s graphicthat the 30-day advancing average of the Take-Buy/Sell ratio of Bitcoin follows. This metric is a reliable measure for market balance, which shows whether aggressive buyers or sellers dominate trading activity. Currently, the sharp decrease in this advancing average points to a clear weakening of the purchasing pressure. What is even more important is that the ratio has now slipped under the critical 0.98 threshold-one level that is generally considered a strong sale signal.
Falling under this line indicates that the sales activity is decisively conquering the purchase demand. In practical terms, it suggests that the market leans heavily to distribution instead of stinging, where investors wanted to discharge positions more than to build them. Historically, when the relationship with such levels has fallen, Bitcoin has trouble maintaining an upward momentum and was often confronted with steep retracements.
Although the price of Bitcoin recently held in the vicinity of crucial support zones, this imbalance between buyers and sellers doubts about the sustainability of the current level. The graph reflects an environment where optimism is fragile and Naste risks are increased.
Cryptoonchain explains that the decrease in the 30-day advancing average of the Taker Buy/Sell Ratio serves as a clear warning. Unless this trend quickly reverses, Bitcoin can be vulnerable to a deeper short -term correction and possibly the start of a more long -term downward phase in the cycle.
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Bulls hold crucial support after sharp pullback
Bitcoin currently acts almost $ 111,000 after a volatile retracement of local highlights above $ 123,000 earlier this month. The graph emphasizes a decisive shift in the Momentum: after repeatedly breaking the $ 124,000 resistance zone, BTC steamed and rolled over, which activated a wave of sales pressure.
Since then, Bitcoin has pushed Bitcoin under the 50-day and 100-day advancing averages, both now downward trend and a short-term range of prospects reinforce. The 200-day advancing average around $ 114,100 is also tested from below, and acts as resistance instead of support. This flip underlines the challenges with which bulls are confronted while they try to stabilize the market.
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For now, BTC finds support in the range of $ 110,000 – $ 111,000, a level that coincides with consolidation zones from earlier in the summer. If buyers can hold this line, assistance to $ 114,000 – $ 116,000 is possible, although recovering those levels will be crucial to get the momentum back.
Not defending current support can expose Bitcoin to a further downward risk, with the next large demand zone near $ 105,000. Market sentiment remains fragile and the inability to erase resistance to $ 124,000 has shifted the focus to the resilience of support levels in the coming weeks.
Featured image of Dall-E, graph of TradingView
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