tl;dr
Bitcoin (BTC) has been fluctuating around the $100,000 mark, facing resistance at $98,804 and support at $94,603. A decline in the Exchange Stablecoins Ratio suggests potential upward momentum for BTC, as it indicates increased buying power for Bitcoin. Additionally, short-term BTC holders adopting ...
Bitcoin (BTC) has been fluctuating around the $100,000 mark, facing resistance at $98,804 and support at $94,603. A decline in the Exchange Stablecoins Ratio suggests potential upward momentum for BTC, indicating increased buying power for Bitcoin. Short-term BTC holders adopting a "HODL" strategy and extending their holding period could contribute to a rally towards $100,000. BTC is currently trading at $96,882, near its all-time high of $99,860. If new demand supported by stablecoin influx emerges, BTC may surpass resistance and move towards the $100,000 milestone. However, intensified selling pressure could lead to consolidation or a dip to $88,986 before another upward move.
BeInCrypto’s assessment of BTC’s on-chain performance has revealed a steady fall in its Exchange Stablecoins Ratio, currently at 0.000060, its lowest level since the beginning of the year. This ratio measures the amount of stablecoins held on exchanges relative to the amount of Bitcoin, with a lower ratio indicating more buying power in the market. A decline in this ratio often signals a higher demand for Bitcoin, potentially pushing its price towards the $100,000 psychological mark.
Further, the growing trend of short-term Bitcoin holders adopting a “HODL” strategy could fuel a rally toward the $100,000 mark. This group, typically holding BTC for less than a month, has extended their holding period by 36% over the past month. Longer holding periods reduce selling pressure, create scarcity in the market, and often signal confidence in the coin’s price growth, contributing to upward momentum for Bitcoin in the near term.
BTC is currently trading at $96,882, just below its all-time high of $99,860, which remains a strong resistance level. If short-term holders continue their “HODL” strategy and new demand arises — supported by the influx of stablecoins on exchanges — Bitcoin could surpass this barrier and move toward the $100,000 milestone. However, if selling pressure intensifies, BTC’s price might consolidate within its current range or dip further to $88,986 before attempting another upward move.