Recently, BTC reached a high of $99,588, approaching $100,000, but ultimately failed to break through.
The market shows that the K-line of BTC shows that the price is fluctuating at a high level, with certain upper and lower shadows, indicating that the market is in fierce competition between long and short sides. The daily chart shows a long positive line followed by a series of small negative and positive lines, suggesting that it has entered a consolidation phase.
The 4-hour MACD is near the zero axis, DIF and DEA show signs of adhesion, and the kinetic energy column is shortened, indicating that the trend is unclear, while the RSI value fluctuates between 56 and 70, slightly biased towards the overbought zone but not reaching the extreme level, indicating that the market still has room to rise but needs to be cautious.
BTC is now trading at $98,194. The current price is above EMA7, and EMA7>EMA30>EMA120, showing a bullish arrangement. The overall trend remains bullish.
The exchange Material Indicators tweeted earlier that "FireCharts show that Bitcoin has huge selling pressure between $993,000 and $100,000," suggesting that sellers are lining up to prevent Bitcoin prices from rising further - a common feature of Bitcoin near key psychological levels.
Long-term holders continue to be greedy
Despite the short-term decline in BTC, investors are still bullish on BTC in the long term. Analyst Ali wrote that the "greed" sentiment of current long-term holders is becoming increasingly apparent. From a historical perspective, this behavior suggests that BTC will take 8-11 months to reach the market peak, and a potential peak may be seen between June and September 2025.
At the same time, cryptocurrency analyst Willy Woo said on social media, "It seems that a lot of funds are flowing into the Bitcoin network now." This observation further confirms that investors' demand for Bitcoin is increasing.
The accumulation behavior of long-term holders provides support for the market stability of Bitcoin. In the case of large market fluctuations, long-term holders can often smooth out price fluctuations and provide liquidity support for the market. The continued greed of long-term holders generally provides positive signals for the future price trend of Bitcoin.
Bitcoin's Fat Guy tweeted today (November 25) that the BTC pullback is a good time to get on board, "the bigger the pullback, the more money you make", showing his positive sentiment towards BTC's performance in the bull market.
Georgii Verbitskii, founder of the TYMIO decentralized finance platform, also said that by the end of 2024 or early 2025, the price of Bitcoin has a chance to rise to between $100,000 and $120,000. Caleb Franzen, founder of Cubic Analytics, reiterated his prediction of a Bitcoin price of $175,000 by 2025 in his latest market analysis.
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Currently, the Greed and Fear Index is still at an extreme greed level, currently at 82, still showing positive market sentiment.
Market volatility brings short-term price uncertainty, but also provides investors with opportunities to enter the market. Every pullback may be a good opportunity for investors to re-enter the market. Especially in a bull market, a pullback is often a necessary adjustment on the way up.
For ordinary investors, holding Bitcoin and increasing their positions when prices fall back may be a wise strategy. Using a larger proportion of funds to invest in Bitcoin and keeping a small portion for other high-risk investments can achieve more stable returns in the long run.
