#Bitcoin experienced a slight pullback over the weekend due to the lack of volume. In the cryptocurrency markets, especially during weekends, volatility tends to increase as trading volumes drop, leading to short-term fluctuations. However, these fluctuations should not be seen as significant market-shifting moves. It’s more of a price discovery attempt in low-volume periods.
Right now, the $60,000 level is the most critical support in the Bitcoin market. Holding this support could lay the foundation for a new bull run. However, it's clear that the market hasn’t fully regained confidence yet. The cautious behavior of investors, along with balanced funding rates, reduces the risk of a speculative bubble and offers a healthier market environment for long-term investors. In my view, as long as this search for balance continues, Bitcoin's upward potential remains intact, but investors should remain cautious in their risk management.
Given the short-term liquidations potentially pushing the price up, setting strategic entry and exit points will be key. #BTCReboundsAfterFOMC
The Importance of the $60K Support
Given the current situation, pullbacks toward $60,000 should be considered normal. The $60,000 level is a key support line for long-term investors, and as long as this level is held, the market outlook remains positive. If this support stays strong, it’s likely that the price could gain fresh upward momentum. However, a close below this level could signal the possibility of a deeper correction.
Balanced Funding Rates Are a Positive Signal
Despite Bitcoin's 20% recovery from its low point, funding rates remain at normal levels, which is noteworthy. The fact that funding rates haven't spiked indicates that the market hasn’t entered an overly speculative phase and that a more sustainable upward trend may be emerging. This situation could provide a safer environment for investors looking to make cautious yet strategic moves. $TON
Spot CVD and Coinbase-Binance Disparity
The flat trend in the Spot CVD (Cumulative Volume Delta) reflects a market searching for balance. The divergence between buying pressure on Coinbase and selling pressure on #Binance highlights different investor behaviors across these two major exchanges. If Coinbase doesn’t shift to the selling side, we can interpret this as a positive signal for price movement. The dominance of buyers on Coinbase could support Bitcoin's upward movement.
Whales Remain Confident
Whale activity continues to be in the positive zone, currently at +2.6. This shows that large investors are still confident in the market and expect further price increases. Tracking the movements of these major players is essential for understanding overall market sentiment. The continued presence of whales in the positive zone supports a long-term bullish outlook.
The Market is in a Disbelief Phase
The market is currently in the disbelief phase. This means that after a long period of downturns, many investors still don’t believe in the recovery. This cautious approach is reflected in the funding rates and long/short position ratios. The fact that short positions are being liquidated more than long positions shows that investors haven’t fully embraced the rally yet. However, such liquidations could help push the price higher in the short term.
Conclusion
Overall, current market data paints a positive picture. While pullbacks to the $60,000 support level are possible, as long as this level holds, the bullish potential remains intact. However, if a close below this level occurs, investors should remain vigilant and prioritize risk management.
Wishing everyone a profitable weekend!