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19 hour ago
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Bitcoin Faces Fragile Trend with Largest Hidden Buying Spike Detected

Bitcoin Market Update

  • Bitcoin is struggling to regain the $90,000 level after a sharp decline, leading to concerns about a deeper downtrend.
  • Market sentiment is weak, with increased selling pressure in both spot and derivatives markets.
  • Liquidity is thinning, causing heightened volatility where minor inflows can lead to significant price reactions.
  • The recent rejection below $90K raises questions about Bitcoin entering a more prolonged corrective phase.

Bitcoin OCM Hidden Order Flow Divergence | Source: On-Chain Mind

  • On-chain data reveals a significant hidden-buying spike, suggesting large players may be accumulating Bitcoin despite the broader market's focus on the decline.
  • This hidden buying could potentially counteract the current sell pressure, influencing Bitcoin's next move.

Hidden Buying and Market Sentiment

  • The persistent hidden-buying signal indicates potential future upside despite current macro fears.
  • External narratives, such as a renewed China Bitcoin ban and Tether FUD, have contributed to bearish sentiment.
  • Sophisticated investors may be taking an opposite stance from retail traders reacting to alarming headlines.

Bitcoin's Technical Analysis

  • Bitcoin remains under corrective pressure after a drop from the $110,000 region, failing to reclaim major support levels.
  • The price is below the 50 SMA and 100 SMA, which are trending downward, indicating a weakened medium-term trend.
  • BTC's attempt to rebound has been modest, forming lower highs consistent with a bearish continuation.
  • Volume spikes during sell-offs emphasize seller dominance, with muted buying activity.
  • Bitcoin needs to close above $95,000–$98,000 to reduce downside risks and stabilize the trend.