Bitcoin is going through an unprecedented phase of calm. Weekly exchange flows have just reached their lowest level in two years, a signal that challenges. Are we faced with prolonged stagnation or the break before a new bullish momentum? For experienced investors, this slowdown could hide a strategic opportunity. Decryption!
A market in search of balance
Since November, Bitcoin entries on exchange platforms have melted by 64 %. An eloquent figure.
Daily sales pressure increased from 81,000 to 29,000 bitcoins, drawing a curve which evokes less panic than exhaustion. A rare phenomenon in a market accustomed to upheavals. The sellers seem to have thrown the sponge, notes Axel Adler JR. cryptocurrency.
In parallel, the current prices-around 84,000 dollars-float well above the $ 30,000 observed during the previous hollow of flows in May 2023. This divergence intrigued.
The market digested post-$ 100,000 profits without giving in to the frenzy, underlines Adler. Current buyers, serene, seem to estimate that the current course already reflects a “fair” value.
Result: an asymmetry of the forces is emerging. The available offer is becoming scarce, while demand, although discreet, remains firm. A structural shortage in waves, warn analysts.
April and May could thus form a technical platform, a buffer area where Bitcoin would consolidate its achievements before leaving.
Neutrality and consolidation of bitcoin: lull before the storm?
But this rarefaction of sales tells only part of the story. On the side of feeling indicators, the market has surprising neutrality.
The premium coinbase, a reflection of the appetite of American institutional investors, oscillates around zero. A fragile balance after weeks of negative territory.
Even more revealing: the behavior of traders on Binance. Inbound flows are four times less there than on other platforms. Tactical neutrality, estimates Joao Wedson from Alphractal.
Short -term holders send 6,300 bitcoins per day to 24,700 bitcoins on other platforms. Proof that some actors prefer to keep their tokens out of trade, anticipating a future increase rather than immediate sale.
This collective prudence is not synonymous with inaction. Bitcoin, like a feline observing its prey, seems to wait until the right moment to jump. With less available liquidity, any spark – favorable regulations, institutional adoption – could trigger explosive volatility. It may be for this reason that Metaplanet continues his purchases.
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