“Bitcoin support is $ 69 000-70,000 and $ 71,600. There is an active flow of wallets on the exchange, including coins that have been left without motion for the last three to five years. Technically, the market looks like RSI. On April 7, the volume of coins sold 36,000 BTC (over $ 2.7 billion). The catalyst has become a lowering bitcoin price to a new minimum since the beginning of the year – marks below […]”, – WRITE: Businessua.com.ua
- Bitcoin support is $ 69,000-70,000 and $ 71,600.
- There is an active flow of coins from wallets on the exchange, including coins that were left without motion the last three to five years.
- Technically, the market looks like RSI.
On April 7, the volume of coins sold 36,000 BTC (over $ 2.7 billion). The catalyst was the reduction of the price of bitcoin to the new minimum since the beginning of the year – the marks below $ 75,000.
In the Past 24 Hours, 36k BTC Were Sold at A Loss on Exchanges – that’s not a Lot Compared to Other Days this year. pic.twitter.com/l73ndyvnlp
– Axel 💎🙌 Adler Jr (@axeladlerjr) April 7, 2025
The above value is inferior to sales, which were observed in the previous months.
According to Intottheblock, the key support for the digital gold rate is $ 69,000. About 1.22 million BTCs were accumulated by ~ 464 000 BTC near this mark.
Accorging to @intottheblock, $ 69,000 is Now A Key $ BTC Support Zone.
Over 1.22m Addresses Boughht 464k+ BTC AROUND THIS LEVEL – SHOWING STRONG Historical Demand and CONVICATION. pic.twitter.com/qtnpqto5p
– Kapoor Kshitiz (@Kshitizkapoor_) April 8, 2025
Glassnode was allocated as a support for $ 71,600 and $ 69,900.
🔸the Downside May Slow Down A Bit From Here – Between $ 74k and $ 70k, There’s A Total of ~ 175k $ BTC in Cost Basis Clusters.
🔸the Single Largest Level Within This Range is $ 71.6k, Holding ~ 41k $ BTC.
🔸the Next more Substantial SUPPORT SITS AT $ 69.9K, WHERE ~ 68K $ BTC Are Held.
– Glassnode (@glassnode) April 7, 2025
According to Cryptoquant, investors are currently retaining 5.12 million BTC (25.8% of available offer).
Bitcoin in Loss: 5,124,348 BTC (25.8%)
That’s a signifyment chunk of the circulating Supple sitting in the red.
While It Might Seem Alarming, It’s Not Unprecedated.
In FACT, WE SAW SIMILAR DIPS IN 2024.
🗓️ Jan 22, 2024: 24.1% – 4.72m BTC
🗓️ July 06, 2024: 22.4% – 5.13m BTC … pic.twitter.com/ppmfaid3zf– Cryptoquant.com (@cryptoquant_com) April 7, 2025
“Although it may seem disturbing, there is nothing unprecedented. In fact, we watched a similar decline in 2024, ”experts said.
Attention, whales! Separate analysts have warned about “awakening” 7933 BTC after “hibernation” for three to five years. In their view, coins may be associated with Coinbase. Experts recorded permanent movements of large portions of bitcoins.
Old Hands Waking up! 🧓💼
7.933 $ BTC Aged 3–5 Years Just MOVED ON-CHAIN-A Clear Spike in Long-Term Holder Activity.
This Cohort (Likely Coinbase) Has Been Consistently Moving Large Chunks Lately. Something’s Up, Stay Sharp. https://t.co/0dmwx65ukb pic.twitter.com/kkj9vnxalm
– Maartunn (@ja_maartun) April 7, 2025
“Something is happening, be alert,” they said.
Frequent translation of the wallets on the exchange was confirmed by the Exchange Inflow CDD indicator. The previous time preceded the fall in the price of the first cryptocurrency from $ 82,000 to $ 76,000, analysts said.
Source: Cryptoquant.
Technical picture Correction from Ath In the current cycle increased to 26.62%. For comparison, in 2018 and 2022 the figure reached 83% and 73%.
Bitcoin’s Current Price DrawDown is about become the largest of the Current Cycle. pic.twitter.com/jqpck1lsdt
– Julio Moreno (@jjcmoreno) April 7, 2025
On a weekly schedule for the first time since September 2024, Bitcoin has tested a 50-week Ma. Closing below this level signals the beginning of the bear market, confident in Cointelegraph.
Source: Cointelegraph.
According to the publication, interest is $ 74,000 (historical maximum of the beginning of 2024). The daily demand zone between $ 65,000 and $ 69,000 may be significant, where the upper limit is the cyclical peak of 2021.
Cointelegraph drew attention to the fall of the relative force index (RSI) to the minimum of January 2023 43%.
The rekt capital cryptoertaider, based on this indicator, suggested that up to $ 70,000 can be the bottom of current correction.
#Btc
As a result, hisistical Daily Rsi Trends in this cycle Suggest Anything Anything from Current Prices to ~ $ 70000 is Likely to Be The Bottom on this Correction pic.twitter.com/0wgox5d3yh
– Rekt Capital (@rektcapital) April 7, 2025
Earlier, the company experts declared strengthening of bear conditions in bitcoin.
Recall that Nansen has predicted the achievement of the bottom of the bottom by June.
The founder and CEO Cryptoquant Ken Ju Ju stated the completion of digital gold. According to his forecast, in the next six months, quotes will be reduced or in the side.
The gun
Please wait …