- Bitcoin consolidates after a $115K to $108K drop, hinting at a major upcoming move.
- Stablecoin Supply Ratio RSI at 21 signals a strong buy opportunity.
- Accumulator addresses hit a record 298K BTC, boosting long-term confidence.
Bitcoin Consolidates After Recent Drop
Bitcoin is currently in a consolidation phase following a notable drop from $115K to $108K last week, as highlighted by CryptoQuant.com. The latest 7-day chart reveals a volatile yet stabilizing market, with the price hovering around $110K after significant fluctuations. The green and red bands indicate percentage changes over 168 hours and 16 hours, respectively, signaling a potential big move on the horizon. This consolidation could be a precursor to a bullish surge or a deeper correction, making it a critical time for investors to monitor on-chain data.
Long-Term Holders Show Growing Confidence
CryptoQuant’s analysis points to several key indicators. The Stablecoin Supply Ratio (SSR) RSI has entered “buy” territory at 21, suggesting strong buying power from stablecoins like USDT, which saw a $10B market cap increase. Additionally, accumulator addresses have hit an all-time high, holding 298K BTC with no sell history, reflecting long-term holder confidence.
However, the Inter-Exchange Flow Pulse (IFP) remains downward, a bearish signal that could reverse with increased spot market activity. Lastly, short-term holders are underwater below the $109,775 realized price, a level that needs reclaiming for sustained bullish momentum.
Short-Term Holders Struggle Below Realized Price
These metrics suggest a market at a crossroads. The influx of liquidity and accumulation by long-term holders could fuel an upward trend, but regulatory scrutiny on stablecoins and exchange flow dynamics add complexity. Investors should watch these signals closely, as they could dictate Bitcoin’s next significant move. For deeper insights, CryptoQuant’s detailed on-chain analytics provide a roadmap for navigating this pivotal moment in the crypto market.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.