Bitcoin enters a pivotal moment as the American Congress “Cryotation Week” will start, where legislators will discuss and vote on cryptocurrency legislation. Decisions taken this week can constitute the regulatory framework of the digital assets in the United States for years to come – and investors are closely watching.
Meanwhile, Bitcoin maintains more than critical support levels after setting the highest new level ever at $ 123,200 and recovers to the main demand near the $ 116,000-118,000 dollar. Despite the withdrawal, the broader trend remains upward, as the price structure is defended and motivated by buyers.
However, new data from Cryptoquant reveals signs of the investor surrender after the sharp correction on Tuesday. The scales on the chain show a significant rise in size, as significant sales were recorded with a decrease in bitcoin, which indicates that some of the bearers may be Exit situations Blinding. This wave of sale added short -term pressure, but it is also possible to overwhelm the weakest hands, putting the way for a more stable recovery.
The sales of panic, where investors understand 50 thousand bitcoin with a loss
Senior analysts Axel Adler participated Main data He revealed that approximately 50,000 BTC was confused in the past 24 hours – one of the largest surrender events that have been seen in recent months. This sharp wave of sale came in the wake of Bitcoin recovery from its highest level ever of $ 12,200, and reflects clear signs of panic in the market. The data indicates that many investors have come out of lower locations than their entry points, a classic sign of surrender in the weakest hands.
Although this may seem worrying, such events often precede a continuation of the ups of upward prices, especially in the strong rise. By getting rid of incredible holders, the market may now be in a more healthy and more sustainable growth mode, driven by long -term condemnation instead of speculative noise.
However, the broader uncertainty remains. On Tuesday, all the three main encryption laws in the US Congress were rejected during the opening of the “encryption week”, raising concerns about the lack of regulatory clarity of digital assets. This unexpected legislative setback may fuel the short -term frequency of institutional investors who await the rules of engagement more clearly.
Despite these opposite winds, Bitcoin’s basics and standards on the chain are still strong. Drainage reserves are low, long -term standing supplies are still fixed, and the network activity continues to rise. Moreover, the last height of the demand for retail and the participation of Altcoin indicates the potential expansion stage, not only for Bitcoin, but for the broader encryption market.
BTC holds strong after a sharp correction
Bitcoin scheme for 8 hours shows that BTC rises well after a volatile decrease from its highest level at $ 123200. The price was sharply recovered to the level of 115,700 dollars, but it found immediate support, printing a bullish tail and is now trading about $ 118,800. Despite the correction, the structure is still optimistic, as its highest levels are still healthy and higher.
More importantly, SMAS 50, 100 and 200 liters (simple moving averages) align with the bullish direction, confirming the strong upward trend. BTC also maintains a much greater degree than the main support level of 109,300 dollars, a former main resistance area, which is now working as a decisive demand area. If Bulls managed to keep the momentum and restore a 120,000 dollar area, it is possible that there is a test of its highest levels ever.
The size increased during the decrease significantly, indicating either the sale of panic or shaking well from the weak hands. However, rapid recovery indicates strong, strong demand and continuous condemnation between long -term holders.
Distinctive image from Dall-E, the tradingView graph
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