Dynamic Bitcoin addresses are approaching a three -month height, signaling the potential capitulation of the cryptocurrency market, which can submit prices from the latest correction.
Dynamic addresses in the Bitcoin network increased to over 912 300 28, the level not seen from December 16, 2024, when Bitcoin (BTC) traded for around USD 105,000, Glass knot The data show.
Number of energetic Bitcoin addresses. Source: Glassnode
An augment in energetic addresses can signal the “moment of surrender” for the cryptographic market, According to to the Intotheblock cryptographic intelligence platform. The company recorded in the post on February 28 to X:
“Historically, increases in chain activity often coincided with the peaks of the market and DNA-driven by panic sellers and opportunistic buyers.”
“Although no single record guarantees price reversal, this increase suggests that the market can be at a key turning point,” added the post.
In financial markets, surrender refers to investors selling their positions in panic, which leads to a significant drop in prices and signaling the nearest market for the market before starting the next valuation.
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Bitcoin must accommodate over USD 80,500 to avoid further losses
Bitcoin’s ability to stay above the 80,500 USD threshold can act as a “potential market stabilization catalyst”, according to Stella Złatareva, an editor of shipping on Digital Asset Investment Platform Nexo.
Złatareva said Cointelegraph:
“The option data indicates that the BTC ability to recover USD 80,500 will be a key factor in the miniature time of momentum. Breaking above this level can pave the way to further growth, while the lack of determining it as support can lead to further tests in the minus. “
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Despite this, Bitcoin can visit this key support again if its price drops below USD 84,000.
Bitcoin Exchange Map Map Source: Coinglass
A potential correction below USD 84,000 would cause long liquidations worth over $ 1 billion on all stock exchanges, Kinglas The data show.
Despite the short-term variability, the price of Bitcoin is closer to the creation of the market DNA than reaching a local top, in accordance with the Bitcoin market value to the implemented value Z (MVRV)-the technical impact used to determine whether the asset component is aligned or sold out.
Bitcoin MVRV Z-Wynik. Source: Glass knot
MVRV B Bitcoin scenes amounted to 2.01 1 March, signaling that the price of Bitcoin is approaching the green territory at the bottom of the chart, becomes more and more sold out, Glass knot The data show.
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