Bitcoin faces crucial moments after dropping below the $120,000 mark due to strong sell-offs. The current price hovers around $115,000, and the market remains in a consolidation phase.
Bitcoin Under Pressure: Correction and Short-Term Holder Reaction
Crypto experts warn that BTC could continue its downward trend if it breaks below current range lows. After dropping below $115,000, short-term holders are already feeling the heat from the OG coin’s southbound movement. Such sharp drops often lead to high price volatility, causing jittery sellers to exit the market before a new trend begins.
HODL Structure: Neutral Market at High Prices
Crypto expert Axel Adler explained that the Bitcoin HODL structure and 30-day flows provide clarity about the current market atmosphere. The short-term holder share is at 47%, with a 30-day Δ value of 0, indicating no rotation between short-term and long-term holders. This suggests a balanced market scenario, free from speculative purchases or long-term pressure.
Current Price Dynamics: Bearish Momentum
At the time of writing, Bitcoin is trading at $115,186 after moving sideways in recent sessions. Main indicators show that the price has swung following rejections at $123,463. Bitcoin is hovering near the lower Bollinger band and below the 20-day moving average, indicating short-term bearish momentum. The range between $114,000 and $118,000 remains a critical decision zone affecting BTC’s price trajectory.
Bitcoin continues to face pressure with the current bearish sentiments emerging and the necessity to hold key support levels to avoid further decline.
