| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107306.9100000000 |
| ETH | $2439.3180000000 |
| BNB | $649.0898000000 |
| XRP | $2.1871990000 |
| ADA | $0.5674135000 |
| SOL | $150.9055000000 |
| DOGE | $N/A |
| DOT | $3.4257100000 |
| LTC | $86.4534000000 |
| LINK | $13.4267100000 |
Category: CRYPTO NEWS
The post Bitcoin Faces Critical Test as Retail Demand Hits Resistance Levels appeared on BitcoinEthereumNews.com. Este artículo también está disponible en español. Bitcoin (BTC) is currently trading just below $88,000, a significant drop from its all-time high of $109,000 earlier this year. Over the past month, the leading cryptocurrency has faced a steady decline, slipping nearly 15% and showing limited signs of a rebound. While this bearish trend has many investors concerned, one CryptoQuant analyst, BilalHuseynov, recently shared his perspective on Bitcoin’s current state using the Retail Investor Demand (RID) indicator. Related Reading Bitcoin Retail Investor Demand at a Crossroads BilalHuseynov’s analysis focused on Retail Investor Demand (RID). This metric, which gauges retail interest and activity in Bitcoin, can often provide insight into potential price movements. According to the analyst, retail investor demand recently faced resistance near the neutral zone of around 0%. Back in mid-February, the RID indicator attempted to cross this threshold but fell short, resulting in Bitcoin’s decline to the current $88,000 level. Bitcoin Retail Investor Demand. | Source: CryptoQuant However, despite this setback, there are positive signs. The analyst noted that the RID is beginning to pick up again, a pattern reminiscent of June 2021 when Bitcoin saw a swift recovery after a similar dip. However, for the metric to truly signal a positive turn, it would need to rise above the 0% neutral zone, indicating a potential shift in market sentiment. BilalHuseynov further elaborates on how the RID metric can guide long-term analysis. He identifies three key levels: • Negative (-15%): A strong indicator to watch for buying opportunities. • Neutral (0%): A sign that the market might be preparing for movements in either direction. • Positive (15%): Suggests that Bitcoin’s price has entered a “premium area,” often seen during bull markets. The analyst gave an example, highlighting that in October 2024, a surge above the 0% neutral zone coincided…
2025-02-27T09:45:07+00:00
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