The Bitcoin price marked a local top around $ 124,000, but for Bernstein, the Haussier market could be extended until 2027. Analysts estimate that the BTC could exchange between $ 150,000 and $ 200,000 next year. But the time is for correction, with a bitcoin which dropped under $ 115,000, and which heads for $ 111,000. The king of cryptocurrencies seems to be impacted by the drop in demand on the side of companies. We take stock of the bulletin of the day!
The Bitcoin course fell by 4 % in a month
Tonight, the Bitcoin course has fell around $ 112,500. THE 110 000 $ come together, and the course displays a 1 % drop in 24 hoursof 5 % in a week and 4 % in a month : Paire 1h 24h 7j 1m 3m 6m
BTC/ETH
-0.12%
0.33%
6.28%
-13.41%
-35.90%
-23.66%
BTC/USDT 0.01% -1.13% -4.96% -4.02% 1.96% 15.88% Bitcoin performance against different pairs. Source: Coincheckup despite the short -term fall, the king of cryptos progresses from 2 % in three months and 16 % over the last six months. In parallel, the BTC/ETH pair bounces more than 6 % in a weekbut she stays down 13.4 % in a monthof 36 % in three months and more than 20 % in six months.
Drop in regime on the side of companies that buy BTC
The Bitcoin course has increased by about 700 % from the lowest recorded in 2022 around the 15 000 $. We know that the Request at ETF level in cash has been important so far, but Bitcoin has also benefited from a Strong buying pressure on the side of listed companies :
Evolution of the number of listed companies buying bitcoin (per day). Source: Capriole Investments however, Charles Edwards, the founder of the Hedge Fund Capriole Investments, pointed out on X that the number of companies that buy BTCs for their cash flow continues to decrease :
The number of Bitcoin buyers for their cash flow continues to drop, now falling to 2.8 per day despite a course that has recorded ATH. Charles Edwards, founder of Capriole Investments.
Is it a simple pause or a drop in demand On the business side? The blue curve has been progressing for several yearsand it is still too early to talk about behavior change. But if the request does not leave, the course of BTC could run out of steam.
Towards a rebound around $ 111,000 for the BTC?
In unit of time 4 hours, the course is dominated by sellers From the summit recorded beyond 120 000 $. The course blocks against Mobile averages (EMA 9/EMA 18) Leasestersand he heads for the next Solid support located at $ 111,000 :
Bitcoin course against the dollar (4 hours)-Register for trading view using our affiliation link. The king of cryptos could bounce At the level of the support. And if this is the case, it could climb towards the Resistance at $ 117,000. However, if buyers do not regain their hands around 111 000 $a Fall around $ 106,000 is possible. In parallel, the RSI continues to develop downwards. THE Momentum is therefore lower in the short term. The BTC demand is falling on the business side. And if the trend continues, the Bitcoin situation could continue to deteriorate. The BTC approaches $ 111,000, and it will take a buying reaction to avoid tumbled under $ 110,000. In this context, the Exchange Tokens sector manages to be solid, including OKB and BNB which recently recorded ATH.