Bitcoin continues to oscillate in the market, trading at $112,976.27 with minor changes over the last 24 hours. This article examines the key support and resistance levels, as well as current trends in network activity.
Current Price and Key Levels
Currently, Bitcoin is trading at $112,976.27, showing a +1.77% increase over the past 24 hours. However, it has seen a -0.18% decline this hour and a -0.39% drop over the week. A critical support level for buyers is at $112K, which must be maintained to avoid further declines.
Network Activity and Market Trends
On-chain data shows a decrease in activity, reflected in the number of active addresses (NAA) dropping from 60% to 30%. This indicates reduced short-term selling pressure and lower speculative activity. However, long-term holders are becoming more active, preparing to sell at higher prices.
Bullish Signals and Current Trends
The Bull Score has fallen to 20, indicating weakening bullish conditions. These metrics show fading momentum, shifting the market from a "bullish cooldown" to "bearish" territory. As long as Bitcoin holds above $112K, the broader structure remains intact, but upside potential may be limited.
In the current market scenario, attention should be paid to the support level at $112K, as well as the active behavior of long-term holders. The current dynamics could signal a potential slowdown in Bitcoin's growth in the coming weeks.
