Foreign media reports that after Bitcoin rose from around $62,200 to $81,500 this month, it has seen a pullback, with the latest trading range returning to around $77,000. The article argues that the focus of this adjustment is not just on the price itself, but also on changes in the distribution of holdings: large accounts continue to absorb selling pressure, while small accounts reduce their positions during the upward trend.
Position differentiation becomes the focus of short-term trading
The report mentioned that for wallets holding 0.1 to 1 BTC, their Accumulation Trend Score value once reached -0.982, indicating that this group tends to sell rather than continue to increase their holdings. In contrast, larger wallets showed a stronger willingness to buy during the upward phase.
The article argues that this differentiation does not necessarily mean a weakening of the market trend. If the selling pressure in the market is mainly absorbed by large holders, it is more likely that the flow of coins will shift from short-term holders to investors with longer holding periods. Therefore, the current correction is better observed through the behavior of the holders, rather than just looking at price fluctuations.
$7.388 million is considered a key support level.
The text lists $73,880 as the most important current value, which corresponds to the -0.5 range in the MVRV pricing band. This indicator is used to measure the relationship between market capitalization and realized market capitalization, and to observe the position of market valuation based on that.
If Bitcoin continues to hold above this range, the article suggests that the recent decline is more likely a consolidation after the rise, rather than a reversal of trend. On the contrary, if this level is lost, the strong structure established after the previous breakthrough will be significantly weakened, and the market may re-evaluate the sustainability of this rebound.
- Key support level: around $73,880
- Current focus range: around $77,570
- Early high range: $81,000 to $84,000
Still looking at the resistance band of $84,000 above.
The report indicates that Bitcoin previously broke through its long-standing consolidation range of $60,000 to $70,000, and then quickly rose to $81,000 to $84,000, but has not yet firmly established itself in this range.
The article argues that if the price breaks through $84,000 again on the daily chart, accompanied by an increase in trading volume, it indicates that the buying side has regained the initiative in the upper range. $100,000 will then become the next main target for observation. At the same time, the momentum indicators are still at relatively high levels recently, suggesting that the buying pressure has not significantly weakened. However, in the short term, there is still a possibility of further consolidation before another attempt at upward movement.
