Signs of Recovery Emerge in Bitcoin Market
- Market Sentiment Improvement: The cryptocurrency market has faced a selling frenzy over the past three months, but as 2025 approaches, individual investor activity suggests a potential easing of selling pressure, indicating an improvement in market sentiment.
- On-Chain Signals Normalizing: CryptoQuant analyst highlighted that following the significant Bitcoin transfer through Coinbase in November, on-chain metrics are gradually returning to normal, with Coin Days Destroyed (CDD) data showing a notable decline, suggesting stabilization in short-term investor activities.
- Impact of Long-Term Holders: Long-Term Holders (LTH) represent the largest share of Bitcoin's total supply, and a decrease in their selling pressure helps ease market tension; if this trend continues, it could contribute to the formation of a market bottom.
- Bitcoin Price Outlook: Analyst Michael Poppe notes that while Bitcoin may not see significant fluctuations in the short term, a breakout above $88,000 could signal better market conditions ahead, prompting investors to stay alert for upcoming major developments.
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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 | 41986.484 | 50993.242 | 61410.484 | 70417.242 | 80834.484 | 89841.242 | 100258.484 |
| Fibonacci | 50993.242 | 58413.21 | 62997.274 | 70417.242 | 77837.21 | 82421.274 | 89841.242 |
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