Bitcoin Sees Several Bullish Signals But Short-Term Holders Still Struggle
Bitcoin's price briefly exceeded $87,000, reflecting a 3.3% increase in 24 hours, before settling around $86,815. Analysts observe a potential bullish trend as market sentiment shifts. On-chain data from CryptoQuant indicates significant changes in funding rates and investor positioning. Open interest in derivatives markets rose by $6 billion over two weeks, suggesting increased trader confidence. A decline in exchange inflows indicates reduced selling pressure, supporting price stability. However, short-term holders, who bought within the last six months, face unrealized losses with an average acquisition price of $91,000, creating a resistance level. New investors from the past month are in profit with a 3.73% gain, indicating renewed market confidence. The risk zone persists until Bitcoin closes above $91,000.
