Bitcoin remains around a key price level, with market stability and no signs of panic indicating the possibility of a new rise.
Calmness in the Bitcoin Market
This week, Bitcoin is trading just below a significant price level, but the market does not appear overly excited or panicked. According to crypto analyst Crypto Dan, this indicates that the market is cooling, which could be a healthy sign. He also shared a trading volume chart showing that the current market situation is steady.
Traders Watching $108,500 Level
Crypto expert Michael van de Poppe states that Bitcoin is resting but could soon show an upward movement. He believes the small pullback is normal and not a cause for concern. Observing the $108,500 level is particularly important as breaking it could lead to a sharp price increase for Bitcoin.
Major Players Continue Buying Bitcoin
Despite the apparent calmness, major investors are taking action. Coinbase CEO Brian Armstrong reported that the company is purchasing Bitcoin weekly, confirming institutional investors' belief in Bitcoin's future. Currently, Coinbase holds nearly $995 million in Bitcoin, making it the tenth-largest holder of BTC.
Under the current conditions, Bitcoin demonstrates stability along with significant fundamental changes that could be a starting point for potential growth. Monitoring key levels and the actions of major players will be crucial in predicting the market's further development.
