In recent weeks, Bitcoin has shown volatility, and many investors are closely monitoring its movements and resistance levels.
Overall Bitcoin Market Status
Bitcoin's value has decreased by 4.05% over the last week. As of now, the price of Bitcoin is $113,344.17, reflecting a 1.64% drop in the last 24 hours. During this period, the price fell by over $2,000, reaching an intraday peak of $115,789.41.
Resistance Levels and Potential Scenarios
The market's primary focus is on the $115,891 resistance level. If Bitcoin manages to surpass this, a price increase to $150,000 is possible, provided that volume support is adequate.
Market Participant Data
Currently, 91% of all circulating bitcoins belong to traders who are in profit. This group includes 18.26 million BTC valued at $2.08 trillion. Meanwhile, 1.41 million BTC are 'Out Of The Money,' accounting for 7.06% of total holders.
Amid Bitcoin's volatility, investors are exercising caution. Current resistance levels and insights into the cryptocurrency holders could significantly influence future price movements.
