The last withdrawal of Bitcoin among the wider macroeconomic uncertainty may not cause that it reflects at a high level of USD 109,000 of all time (ATH) as soon as some hope, says the analyst.
“We should assume that we are in the withdrawal phase after ATH and we will probably continue to consolidate for some time because of the needs of liquidity,” Xbtmanager Xbtmanager he said In the note on March 5.
Bitcoin long “profitable” offers when long -term owners return to the purchase
Xbtmanager said that once short-term Bitcoin owners (BTC)-those with less than 155 days-they will sell, and long-term owners will start buying again, long positions “will become profitable”.
Until then, they said that traders should be reluctant to risk entering the position in the assets.
“In the next few months, caution is recommended and very risky transactions should be avoided.”
In the days preceding Bitcoin, he reached USD 109,000 for the first time on January 20, before the inauguration of the US President Donald Trump, miniature -term owners began to enhance their supply, while long -term owners reduced their sales, they explained.
At a high level of Bitcoin in the amount of USD 109,000, on January 20, it led to a decline of about 100,000 BTC in the long -term supply of the holder in the next 30 days, but in December there was an even greater decrease when he first reached six numbers.
Bitcoin has dropped by 1.43% in the last seven days. Source: Coinmarketcap
On December 1, the long -term supply of owners reached 15.2 million BTC, just four days before Bitcoin reached $ 100,000 on December 5, according to Bitbo data. By December 20, it fell to 14.7 million.
Related: Bitcoin is no longer a “safe marina” because the price of 82 thousand USD leaves gold upstairs
At the time of publication, the long -term supply of owners is 14.4 million BTC, which is a decrease of 800,000 BTC from December 1.
Bitcoin withdrew below $ 100,000 on February 4 among the fears before the trade war with the promised Trump tariffs. It dropped even lower to USD 85,000 on Wall Street on February 27, when the markets are digested confirmation of modern American tariffs.
Source: Timothy Peterson
Later on the same day, assets fell below the key price level of USD 80,000, removing almost all profits after choosing President Trump on November 5.
At the time of publication, Bitcoin trads $ 87 100, According to to Coinmarketcap.
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This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
