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Oh, the noble Bitcoin, now hovering near the sumptuous $105,300, though it has taken a slight dip of 0.8% in the past day, and a more significant 5% this month. Yet, this week appears surprisingly stable. After a brief descent to the humble $100,000, Bitcoin has managed to bounce back, even as the sell pressure escalates with the vigor of a thousand knights! 🧙♂️💸
What sorcery is this? A contrast between rising selling pressure and relatively steady prices? It’s as if the market is playing a game of chess with a blindfold! 🎭
Data Shows Surge in Selling Pressure By Over 1,300%
On-chain data, that most sacred of scrolls, reveals a sharp spike in BTC selling. The short-term holders, those fickle souls, have increased their exchange transfers from 470 BTC to 6,695 BTC, a 1,300% surge! 📈💸
Meanwhile, mid-term holders, ever the cautious financiers, boosted their exchange inflows by 300%. A sign of profit-taking, or perhaps a warning that the market is as volatile as a tavern brawl! 🥃
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
One might think that such a rise in exchange inflows would crush prices, but here we are, dancing on the edge of a knife! 🤸♂️
Looming Bullish Crossover Signal Suggests a Rebound Could Strengthen
Behold, the Exponential Moving Average, that sly fox, now showing a bullish crossover. The 20-period EMA inches closer to the 50-period EMA, a sign that momentum may be stirring like a sleeping dragon! 🐉
The last time this occurred, Bitcoin rallied with the grace of a ballet dancer. Will it repeat? Only the gods know! 🕺
This suggests that despite the chaos, the market’s heart beats on, and traders watch with bated breath, like spectators at a gladiatorial match! 🏆
Large Holders Step In as Key Bitcoin Price Levels Define the Next Move
Whale wallet data, that most mysterious of beasts, shows an uptick in accumulation. Entities with over 1,000 BTC have grown in number, as if they’ve discovered a treasure map! 🧭
At the current price, this implies over 26,000 BTC (a fortune!) added to large wallets – enough to absorb the chaos of short-term sellers! 💸
If this continues, Bitcoin may retest key resistance levels, like a phoenix rising from the ashes! 🦅
But beware! A daily close below $102,900 could weaken the structure, and the market may retreat to $98,800 – a fate as grim as a rainy day in Paris! 🌧️
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2025-11-11 10:58