Bitcoin’s Market Structure Solidifies Amid Slower Trading Activity

Bitcoin's market is displaying resilience despite a drop in trading volumes. Long-term holders are maintaining their positions, leading to a stable price range. The movement of BTC into cold storage and a reduction in exchange supply is shifting the market from speculative swings to firmer support.

Price Compression and Market Dynamics

The correlation between Bitcoin and the Nasdaq suggests a potential for Bitcoin to move toward $100,000 as it lags behind Nasdaq's stability.
A recent correction saw Bitcoin fall from $115,000 to $80,000, highlighting a shift from high-volatility stocks to more stable assets.
Post-sell-off, risk-on appetite has returned, indicating a possible upward trend for Bitcoin to $110,000-$115,000.
CryptoMichNL advises focusing on charts and macro relationships rather than the 4-year cycle theory.

Institutional Confidence Reflected On-Chain

Significant institutional demand is evident with Binance, Coinbase, Wintermute, BlacRock, and an unknown whale purchasing a total of 20,438 BTC, worth about $1.9 billion, within six hours.
This buying spree occurred just before the Federal Reserve's employment data release, suggesting expectations of favorable outcomes.
If the Fed's actions align with these purchases, it may indicate strategic preparation by institutions rather than mere momentum trading.