Despite the drop in the price of bitcoin, its capitalization made reaches a record, a sign of the confidence of long -term investors. This data shows that capital continues to flock to the king of cryptocurrencies. Are operators right to trust the first capitalization of the market after a correction of more than 10 % and a fence in August in the red? The history of Bitcoin shows that this drop is not so catastrophic. We enter the details in the bulletin of the day!
The Bitcoin course stagnates around $ 110,000
It has been about a week since the Bitcoin course Oscil around $ 110,000. For the moment, buyers defend this round psychological figure after the Loss of $ 120,000. Paire 1h 24h 7j 1m 3m 6m
BTC/ETH
0.16%
2.01%
6.17%
-20.49%
-35.96%
-36.72%
BTC/USDT -0.35% 0.37% -0.82% -3.39% 5.24% 26.78% Bitcoin performance against different pairs. Source: Coincheckup the BTC Fall of 3.4 % in one monthbut it is up more than 5 % in three months and nearly 30 % in six months. For its part, the BTC/ETH pair climbs 2 % in 24 hours and 6 % in a week. Even if the Bitcoin is less efficient than Ethereum For several months, he has been finding strength in the short term.
Bitcoin's price drops by more than 10 %, a conventional correction on this cycle
Since August 14, the Bitcoin course is in the process of to correct. With the recent fall Under $ 110,000the king of cryptocurrencies recorded a drop by around 13 % (drawdown) :
Evolution of the Drawdown of Bitcoin since March 2024. Source: Glassnode Falls are part of the bullish phases, the BTC also suffers in frequently in bull run. Since 2024, there has been Several folds of more than 20 %. And the most severe fall was observed at the start of the year (-30 %), due to customs tariffs of Trump. The current drop is therefore normal compared to other corrections of the cycle. During this cycle, we even see that falls are less violent than on the previous cycles. And this drop in volatility could be the consequence of the arrival of Institutional actors.
The BTC course blocks around the resistance at $ 111,000
Despite the recent bouncethe course continues to draw lowering structures in the short term, and he blocks against Resistance at $ 111,000 :
Bitcoin course against the dollar (4 hours)-Register for trading view using our affiliation link. If the trend continues, the course could continue to Correct to level at $ 106,000. If the 111 000 $ are crossed, the BTC could return to the height of the Resistance at $ 117,000. The RSI continues to climb and overcoming 64 would validate a Handy divergence in 4 hours. Bitcoin's course is bouncing, but the short -term trend is always to the advantage of sellers. A break in $ 111,000 could still cause an increase to resistance at $ 117,000. In parallel, the Whales decided to accumulate eTH during this drop.
Bitcoin news that counts
The institutional demand in Bitcoin is six times higher than the production of minors, while the reserves of the platforms fall. Are we heading for a stock of stock?