• bitcoinBitcoin (BTC) $ 96,548.00
  • ethereumEthereum (ETH) $ 2,682.08
  • xrpXRP (XRP) $ 2.55
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 675.34
  • solanaSolana (SOL) $ 195.82
  • usd-coinUSDC (USDC) $ 0.999904
  • dogecoinDogecoin (DOGE) $ 0.262486
  • cardanoCardano (ADA) $ 0.800700
  • staked-etherLido Staked Ether (STETH) $ 2,680.95
  • tronTRON (TRX) $ 0.235631
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 96,471.00
  • chainlinkChainlink (LINK) $ 18.58
  • suiSui (SUI) $ 3.45
  • wrapped-stethWrapped stETH (WSTETH) $ 3,194.71
  • avalanche-2Avalanche (AVAX) $ 25.54
  • stellarStellar (XLM) $ 0.336282
  • litecoinLitecoin (LTC) $ 127.45
  • shiba-inuShiba Inu (SHIB) $ 0.000016
  • the-open-networkToncoin (TON) $ 3.75
  • leo-tokenLEO Token (LEO) $ 9.77
  • hyperliquidHyperliquid (HYPE) $ 26.17
  • usdsUSDS (USDS) $ 1.00
  • hedera-hashgraphHedera (HBAR) $ 0.224810
  • wethWETH (WETH) $ 2,680.99
  • polkadotPolkadot (DOT) $ 5.13
  • bitget-tokenBitget Token (BGB) $ 5.66
  • bitcoin-cashBitcoin Cash (BCH) $ 336.85
  • ethena-usdeEthena USDe (USDE) $ 0.999952
  • uniswapUniswap (UNI) $ 9.86
  • mantra-daoMANTRA (OM) $ 5.71
  • wrapped-eethWrapped eETH (WEETH) $ 2,840.08
  • ondo-financeOndo (ONDO) $ 1.32
  • moneroMonero (XMR) $ 225.78
  • pepePepe (PEPE) $ 0.000010
  • nearNEAR Protocol (NEAR) $ 3.36
  • whitebitWhiteBIT Coin (WBT) $ 27.09
  • aaveAave (AAVE) $ 255.03
  • aptosAptos (APT) $ 6.12
  • mantleMantle (MNT) $ 1.04
  • daiDai (DAI) $ 0.999942
  • internet-computerInternet Computer (ICP) $ 7.17
  • susdssUSDS (SUSDS) $ 1.04
  • bittensorBittensor (TAO) $ 384.70
  • official-trumpOfficial Trump (TRUMP) $ 16.06
  • ethereum-classicEthereum Classic (ETC) $ 21.12
  • okbOKB (OKB) $ 51.55
  • gatechain-tokenGate (GT) $ 23.30
  • vechainVeChain (VET) $ 0.034485
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.318167
  • kaspaKaspa (KAS) $ 0.102341
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 96,578.00
  • crypto-com-chainCronos (CRO) $ 0.091152
  • algorandAlgorand (ALGO) $ 0.291998
  • tokenize-xchangeTokenize Xchange (TKX) $ 29.39
  • render-tokenRender (RENDER) $ 4.53
  • jupiter-exchange-solanaJupiter (JUP) $ 0.870505
  • cosmosCosmos Hub (ATOM) $ 5.00
  • filecoinFilecoin (FIL) $ 3.42
  • arbitrumArbitrum (ARB) $ 0.487197
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998886
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.778586
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 96,619.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.535567
  • fasttokenFasttoken (FTN) $ 3.94
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,670.03
  • celestiaCelestia (TIA) $ 3.07
  • binance-staked-solBinance Staked SOL (BNSOL) $ 202.40
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,773.67
  • lido-daoLido DAO (LDO) $ 1.71
  • optimismOptimism (OP) $ 1.12
  • raydiumRaydium (RAY) $ 5.21
  • kucoin-sharesKuCoin (KCS) $ 12.13
  • injective-protocolInjective (INJ) $ 15.08
  • xdce-crowd-saleXDC Network (XDC) $ 0.093984
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 96,060.00
  • blockstackStacks (STX) $ 0.955695
  • ethenaEthena (ENA) $ 0.449831
  • immutable-xImmutable (IMX) $ 0.799646
  • theta-tokenTheta Network (THETA) $ 1.38
  • bonkBonk (BONK) $ 0.000018
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,006.83
  • the-graphThe Graph (GRT) $ 0.140480
  • nexoNEXO (NEXO) $ 1.33
  • quant-networkQuant (QNT) $ 91.50
  • movementMovement (MOVE) $ 0.549449
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,831.95
  • worldcoin-wldWorldcoin (WLD) $ 1.22
  • flare-networksFlare (FLR) $ 0.020991
  • usual-usdUsual USD (USD0) $ 0.997522
  • jasmycoinJasmyCoin (JASMY) $ 0.022136
  • sei-networkSei (SEI) $ 0.234453
  • dexeDeXe (DEXE) $ 17.82
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 95,669.00
  • galaGALA (GALA) $ 0.023235
  • msolMarinade Staked SOL (MSOL) $ 247.33
  • eosEOS (EOS) $ 0.643782
  • the-sandboxThe Sandbox (SAND) $ 0.395808
  • flokiFLOKI (FLOKI) $ 0.000097
  • tezosTezos (XTZ) $ 0.895236
  • jito-governance-tokenJito (JTO) $ 3.10
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.73
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,778.19
  • bittorrentBitTorrent (BTT) $ 0.00000087
  • iotaIOTA (IOTA) $ 0.236858
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.29
  • wbnbWrapped BNB (WBNB) $ 672.65
  • makerMaker (MKR) $ 988.71
  • ultimaUltima (ULTIMA) $ 19,251.14
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.82
  • flowFlow (FLOW) $ 0.524004
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 212.45
  • neoNEO (NEO) $ 11.36
  • bitcoin-svBitcoin SV (BSV) $ 39.71
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 96,363.00
  • kaiaKaia (KAIA) $ 0.132170
  • roninRonin (RON) $ 1.23
  • chain-2Onyxcoin (XCN) $ 0.023112
  • pyth-networkPyth Network (PYTH) $ 0.205651
  • usddUSDD (USDD) $ 1.00
  • tether-goldTether Gold (XAUT) $ 2,928.16
  • axie-infinityAxie Infinity (AXS) $ 4.39
  • heliumHelium (HNT) $ 3.88
  • spx6900SPX6900 (SPX) $ 0.739458
  • curve-dao-tokenCurve DAO (CRV) $ 0.527538
  • telcoinTelcoin (TEL) $ 0.008657
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.261341
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,829.93
  • elrond-erd-2MultiversX (EGLD) $ 23.20
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.010240
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,684.34
  • fraxFrax (FRAX) $ 0.996370
  • usdx-money-usdxusdx.money USDX (USDX) $ 0.995691
  • paypal-usdPayPal USD (PYUSD) $ 0.999939
  • aerodrome-financeAerodrome Finance (AERO) $ 0.805356
  • decentralandDecentraland (MANA) $ 0.330405
  • pax-goldPAX Gold (PAXG) $ 2,947.92
  • starknetStarknet (STRK) $ 0.233827
  • berachain-beraBerachain (BERA) $ 5.58
  • beam-2Beam (BEAM) $ 0.011296
  • arweaveArweave (AR) $ 9.07
  • dogwifcoindogwifhat (WIF) $ 0.593555
  • conflux-tokenConflux (CFX) $ 0.118559
  • matic-networkPolygon (MATIC) $ 0.317948
  • dydx-chaindYdX (DYDX) $ 0.780224
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,675.51
  • resolv-usrResolv USR (USR) $ 1.00
  • chilizChiliz (CHZ) $ 0.060542
  • pumpbtcpumpBTC (PUMPBTC) $ 93,955.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,680.90
  • pendlePendle (PENDLE) $ 3.39
  • meowMEOW (MEOW) $ 0.006082
  • apecoinApeCoin (APE) $ 0.733672
  • ecasheCash (XEC) $ 0.000027
  • insurance-2INSURANCE (INSURANCE) $ 28.13
  • zcashZcash (ZEC) $ 33.05
  • beldexBeldex (BDX) $ 0.075063
  • wormholeWormhole (W) $ 0.179861
  • kavaKava (KAVA) $ 0.475328
  • thorchainTHORChain (RUNE) $ 1.45
  • compound-governance-tokenCompound (COMP) $ 56.57
  • coredaoorgCore (CORE) $ 0.538224
  • ai16zai16z (AI16Z) $ 0.454427
  • aioz-networkAIOZ Network (AIOZ) $ 0.434624
  • true-usdTrueUSD (TUSD) $ 0.998185
  • amp-tokenAmp (AMP) $ 0.005809
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 96,486.00
  • story-2Story (IP) $ 1.95
  • clbtcclBTC (CLBTC) $ 96,918.00
  • fartcoinFartcoin (FARTCOIN) $ 0.485102
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008747
  • newton-projectAB DAO (AB) $ 0.010707
  • akash-networkAkash Network (AKT) $ 1.90
  • morphoMorpho (MORPHO) $ 2.03
  • gnosisGnosis (GNO) $ 173.85
  • tbtctBTC (TBTC) $ 96,387.00
  • chex-tokenCHEX Token (CHEX) $ 0.444611
  • apenftAPENFT (NFT) $ 0.00000044
  • quantixaiQuantixAI (QAI) $ 84.42
  • mina-protocolMina Protocol (MINA) $ 0.355658
  • axelarAxelar (AXL) $ 0.470774
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000078
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 2,660.29
  • based-brettBrett (BRETT) $ 0.043045
  • olympusOlympus (OHM) $ 25.84
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999654
  • eigenlayerEigenlayer (EIGEN) $ 1.70
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • usdbUSDB (USDB) $ 0.998614
  • super-oethSuper OETH (SUPEROETHB) $ 2,681.01
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • deepDeepBook (DEEP) $ 0.161859
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,923.55
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.963016
  • zksyncZKsync (ZK) $ 0.107861
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,681.38
  • verus-coinVerus (VRSC) $ 4.91
  • echelon-primeEchelon Prime (PRIME) $ 7.03
  • 1inch1inch (1INCH) $ 0.273854
  • grassGrass (GRASS) $ 1.57

Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?

Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?

Bitcoin has recently faced a slowdown in its upward trajectory after reaching over $105,000 earlier this week. The cryptocurrency had shown signs of a potential breakout, but key indicators have come into focus as the market evaluates its next move.

The latest insights from analysts have raised questions about whether Bitcoin’s market momentum can overcome the resistance level at $108,000, its previous all-time high.

Analyzing Bitcoin’s Market Indicators

Amid the price performance from BTC, CryptoQuant analyst ShayanBTC has provided insights on the challenges and possibilities ahead for Bitcoin. Shayan noted that despite Bitcoin’s recent price increases, the funding rates—a critical on-chain indicator—have started to decline.

This bearish divergence suggests that demand in perpetual markets may be weakening, casting doubt on whether the current bullish momentum is sufficient to push Bitcoin above its all-time high.

Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?

Particularly, one of the primary hurdles for Bitcoin’s price to surpass $108,000 is the lack of strong market enthusiasm, as reflected in the funding rates. According to Shayan, typically, rising funding rates indicate an increase in long positions and market optimism.

However, the current decline in these rates signals that traders are hesitant to bet on further price increases. Shayan emphasized that without a significant boost in optimism and a greater influx of long positions, Bitcoin’s resistance at $108,000 could hold firm, potentially leading to a consolidation phase or even a temporary price rejection. The analyst wrote:

For Bitcoin to decisively breach $108K, the funding rates must rise further, signaling an increase in optimism and a greater influx of long positions. Without this market-wide enthusiasm, the resistance at $108K could hold, leading to potential consolidation or a temporary rejection.

Indication from Long-Term Holders Metric

On the other hand, long-term holders—investors who have maintained their Bitcoin holdings for seven years or more—have shown no inclination to sell their assets. Another CryptoQuant analyst reporting this in a post on the QuickTake platform noted:

Holders who have held bitcoin for seven years or more sold some of their holdings before the end of the previous bull market. Long-term bitcoin holders have not yet moved their holdings to exchanges.

Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?

This behavior highlights a trend seen in previous market cycles: long-term holders often remain resilient through price fluctuations, providing a steady base of support for the cryptocurrency.

The decision of these holders to keep their Bitcoin off exchanges suggests confidence in the asset’s long-term value, even as short-term market sentiment fluctuates.

Featured image created with DALL-E, Chart from TradingView

Source

Leave A Reply

Your email address will not be published.