Bitcoin is consolidating between $110,000 and $116,000 after a sharp drop from its all-time high of $123,000 in July. Major market players are beginning to accumulate BTC.
Price Dynamics of Bitcoin
After dropping to the $110,000–$116,000 range, Bitcoin has created an 'air gap' in liquidity, according to Glassnode’s analysis. This price range is significant for institutional investors waiting for suitable buying opportunities.
Actions of Major Players
Major companies like Coinbase and Tether have accumulated about 30,000 BTC in recent weeks. These actions may indicate potential future market movement, but significant statements from large players are still lacking.
Potential Market Consequences
The total number of liquidated positions exceeds $922 million, indicating an important reset that opens the way for new accumulation. It's expected that if Bitcoin fails to surpass the $116,000 mark, this could lead to increased volatility and a rapid drop to lower support levels. Analysts warn that the current situation creates a classic 'squeeze zone.'
The Bitcoin market situation remains uncertain; however, the actions of institutional investors and the accumulation of BTC may signal potential changes in the future. Attention to critical levels of $110,000 and $116,000 remains high.
