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As Bitcoin (BTC), the leading cryptocurrency in the market, continues in the low direction, and modern visions of industry experts highlight the decisive factors that affect the BTC path.
According to Ki Young Ju, CEO of Market Intelligence Cryptoquant, the current Bitcoin Bull course may be close to its end. This confirmation is based on a concept CapeA scale determines the actual capital that enters the BTC market through activity on the chain.
Visions from Ki Young Jo
For context, the CAP scale investigates a direct hypothesis: when Bitcoin enters a wallet, it represents a purchase, and when it leaves, it indicates the sale.
By calculating the average cost for each portfolio and hitting it with the amount of BTC preserved, the JU derives the total maximum achieved. This scale reflects the total capital that really entered BTC Environmental SystemOn the sharp contrast to the market value, which is determined according to the last trading price on the stock exchanges.
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A common wrong belief, According to To JU, it is that a small purchase, like $ 10 of Bitcoin, increases only the market value of the same amount. In fact, prices are affected by the balance of purchase and sale orders on the request book.
Low sales pressure means that even modest purchases can significantly increase prices, and thus the maximum market. This phenomenon has been significantly exploited by Microstrategy (MSTR), which has released convertible bonds to acquire bitcoin, thus inflating the paper value of its passports to beyond the initial capital that was published.
Bitcoin's main price levels
Currently, Bitcoin appears to be in a difficult position, as it has decreased to less than $ 80,000. when Pressure High, even large purchases fail to influence prices, as shown when Bitcoin is trading near its highest level ever, which is approximately $ 100,000. Despite the huge trading volumes, the price remained stagnant.
JU indicates that if the maximum achieved increases, but the maximum market is either flat or decreased, it indicates a decreased direction. This indicates that with the capital's entry into the market, it does not translate to the price estimation – the distinctive feature of the bear market.
On the contrary, if the market value rises while the maximum achieved remains stable, then this indicates that even the minimum of the new investment leads to high prices, which indicates the presence of a marketing market.
Currently, the data indicates that Bitcoin suffers from the previous scenario: capital It flows, but the prices do not respond positively. Historically, the important market repercussions require at least six months of appearing, making a short -term gathering unlikely.
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In addition to the complexity, the market expert on Martinez has identified the main resistance levels that the bitcoin should overcome to restore the upward momentum.
It is worth noting that there is a major The resistance group At 87,000 dollars, where the moving average is 50 days, a 200 -day moving average, and a luxury direction line of the none at all.
Ken Bitcoin to resume its upward path, expert Confirm BTC should penetrate critical resistance points at $ 85,470 and 92,950 dollars. In addition, support is still at 80,450 dollars vital; Failure to keep this level can lead to more declines.
As of now, the leading cryptocurrency is trading at $ 78379, as it recorded a 6 % decrease on Sunday.
Distinctive image from Dall-E, Chart from TradingView.com
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