Bitcoin Struggles Below $82K While Coinbase Premium Rises—What’s Next?
Bitcoin is still facing challenges in its recovery toward momentum, with cryptocurrencies still under $82,000 as of today. The asset recorded an all-time high of $109,000 in January well below 25.1%.
The decline in BTC has increased by 0.7% over the past 24 hours, reflecting on the ongoing market hesitation and uncertainty among investors. In this price performance, crypto analyst Avocado Onchain owns Sure Significant trends in Bitcoin price channels.
Bitcoin Coin Premium and Market Sentiment
Despite Bitcoin’s downward trajectory, Coinbase Premium has been forming higher lows, indicating potential Potential demand. However, crypto analysts warned that no clear breakout or reversal signals appeared, leaving the market in one Status not sure.
In particular, according to Avocado Onchain, Bitcoin’s Price still exists In price channels where prices are falling, repeated pullbacks make it difficult to determine a clear trend. Avocado points out:
So far, no decisive movement has shown a downward trend, but at the same time, there are no obvious signs of a bullish reversal. The market is becoming increasingly uncertain, creating an environment designed to confuse and disturb investors.
Coinbase Premium measures the difference between Coinbase and other exchanges’ Bitcoin prices and shows higher lows despite the price drop. This may indicate that U.S. investors are still accumulating BTC, even if A broader market struggle Find the direction.
Analysts warn that there is no obvious grasp of bullish news or panic sales during the downturn, emphasizing that strategic decisions should be made in advance rather than responses to market volatility.
Although the bear market is not confirmed, Avocado believes that exiting positions based on short-term fears may lead to opportunities for long-term disappearances. The analyst wrote:
From my point of view, there is currently not enough data to announce a bear market. Give up the position now may end up being an inappropriate exit rather than a calculation decision.
Miner sales pressure and market impact
Crypto Analyst IT Technology Increases Market Pressure Famous A surge in BTC miner sales activity. Data shows that as Bitcoin drops to $77,700, miners increase BTC transfers to exchanges, a move that represents signs of sales pressure at market lows.
Miners often sell BTC to cover operating costs, especially during periods of price decline. If miners’ sales pressure continues, it may limit Bitcoin’s ability Recover in a short period of time. However, if buyer demand is still strong enough to absorb excessive supply, Bitcoin may stabilize at current levels before attempting to rebound.
Feature images created with DALL-E, charts for TradingView
