After reaching $102,180, Bitcoin's price declined again, yet investors show increasing activity.
Binance Investors Indicate Accumulation
CryptoQuant analyst Burak Kesmeci noted a negative 14-day simple moving average for Binance, suggesting an accumulation trend. Additionally, Bitcoin outflows on Binance peaked at 5,407 BTC, showing price support. "Both indicators confirm investor behavior on Binance leaning toward accumulation," the analyst said.
$98,000 Support for New Highs
Despite a brief drop to $98,000, the technical market structure remains bullish. Analyst Michael Van de Poppe highlights $98,000 as a key support level for new growth. "I'd like to see $98,000 hold. If that holds, then I'm expecting a new ATH to come," the analyst stated.
Analysts on the Current Bitcoin Market
Analysts note that market action, including the rise to $102,180 and subsequent decline, does not harm the long-term outlook. It is expected that the price will stabilize around $97,000 while maintaining a bullish trend.
The Bitcoin market is showing active dynamics, and despite recent fluctuations, investors continue to buy in anticipation of renewed growth.
