Bitcoin's downward barrier has been broken!
05Jan
After about six weeks of fluctuating in a bearish pattern, the Bitcoin price finally managed to break through this structure and, by crossing the $90,000 level, showed signs of a return to bullish momentum.
This growth coincided with increased inflows into Bitcoin spot ETFs, a factor that allowed the market to largely ignore recent geopolitical tensions and the US invasion of Venezuela.
Meanwhile, whale behavior has changed significantly. Wallets with 10,000-100,000 BTC that were previously in the distribution phase have accumulated around 10,000 BTC in the past 24 hours, which could offset the short-term selling pressure.
Meanwhile, whale behavior has changed significantly. Wallets with 10,000-100,000 BTC that were previously in the distribution phase have accumulated around 10,000 BTC in the past 24 hours, which could offset the short-term selling pressure.
On the other hand, miners have increased their sales and are cashing in some of the profits at higher prices. Although the volume of these sales is not yet alarming, it could slow down the pace of price growth.
Currently, Bitcoin is trading around $92,445, up 1.2% on the daily chart.
A consolidation above $92,031 could pave the way for a move towards $95,000; otherwise, a return to the $90,000 range remains a likely scenario.
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