Bitcoin Accumulator Demand Hits Record High Despite Ongoing Price Correction
- Demand Strengthens: On-chain data from CryptoQuant reveals that net accumulation from Accumulator Addresses has surged to approximately 320,000 BTC, marking a new all-time high, despite Bitcoin's ongoing price correction, indicating robust demand from long-term holders.
- Structural Market Shift: This metric highlights that Accumulator Addresses represent the lowest probability sellers in the ecosystem, effectively reducing market circulation and future sell-side pressure, thus reflecting a structural change in demand.
- Accumulation Not Indicative of Selling: A slowdown in accumulation does not imply selling; the coins absorbed by these addresses remain dormant, continuing to influence supply dynamics, suggesting that this metric should be viewed as a lens into demand composition rather than a direct market signal.
- Transition to Stored Value: Overall, the data suggests Bitcoin may be transitioning from a highly traded asset to a stored asset, dominated by long-term holders in marginal supply, yet a comprehensive analysis must include ETF flows, institutional participation, and macroeconomic conditions.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36099.581 | 48049.791 | 60369.601 | 72319.811 | 84639.621 | 96589.831 | 108909.641 |
| Fibonacci | 48049.791 | 57320.938 | 63048.663 | 72319.811 | 81590.958 | 87318.683 | 96589.831 |
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