The main dishes to remember:
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The rebound of 36% Bitcoin, compared to $ 74,500, takes place in resistance at $ 106,000.
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Liquidity on the offer side is lowering almost $ 93,000.
Bitcoin (BTC) The price rebounded 36% compared to its lowest April 9, five months at $ 74,500. However, his inability to decisively exceed $ 106,000 aroused concerns about whether a clear correction is possible in the coming days.
More than 97% of Bitcoin holders are now in profit
Recent bitcoin exceed $ 105,000 saw its price increase above the short-term holder made the price while this cohort of merchants overthrew some of their losses not made for profit.
Cryptory data reveal that less than 2.8% of Bitcoin investors were still in a position of loss when the price has surmounted about $ 102,000 on May 15, then representing 97% of the supply for profit.
The percentage of the offer in profit and loss assesses the sum of the unattached transaction results (UTXO) which are in profit or not by comparing the price during their last trip and the current price.
If Bitcoin continues to increase current levels, more investors will remain in profit. A high number of profits is often considered as a sign overheated marketwhich precedes or generally coincides with price corrections.
Following this ONCHAIN signal, the Bitcoin price can see withdrawals in the coming days while investors choose to reserve profits.
The open interest of Bitcoin remains high
Open interest (OI) on Bitcoin derivatives reached an almost recorded summit of $ 67.5 billion on May 14, while the BTC was almost overcome the resistance at $ 106,000.
“Bitcoin begins to be exhausted here, an open interest has caught up with the approximate levels of all previous time”, ” said Trader pseudonym Adam in an article on May 15 on X, adding:
“I think that the passage of 80,000 was important enough not to see new stockings, but this is not the place where I would open new long.”
In addition, Bitcoin CME Futures OI also reached a 90 -day summit of 146,950 BTC on May 13, worth around 16.5 billion dollars at the time, according to cryptocurrency.
At the time of publication, CME had the share of the Lion of the OI with 22.9%, followed by a binance with 17.4%, then 10%.
With the high current BTC demand term contractsInvestors are considering the possibility of a removal similar to that which occurred at the end of January, when the BTC prices dropped by almost 16% within seven days, fixing a low swing at $ 91,530.
In relation: Bitcoin at $ 1 million by 2028 while Hayes tells Europe to “release your money”
The price of Bitcoin fell into resistance at $ 106,000
From a technical point of view, the latest Bitcoin rally has been reduced by an offer congestion zone between $ 106,000 and the $ 109,000 every high time. When the price was rejected from this level on January 31, he recorded a loss of 27% to $ 78,000, which suggests that the Bears aggressively defend this area.
Bitcoin bulls had to produce a decisive daily candlestick near this area to maintain the recovery.
The non-return of $ 106,000 in support could lead to a drop in the price, the long-standing liquidations that accompany him drawing the price towards the opening of the year at $ 93,000.
Coinglass data showed a wall of requests for requests which increased above $ 106,000, strengthening the importance of this resistance zone.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.