Bitcoin Shows Neutral Macro Pressure Amid Elevated Profit-Taking and Increasing Whale Outflows
Main Idea
Bitcoin's market conditions are neutral with a heat index of 44%, indicating balanced sentiment, while realized profits have cooled to $1.4 billion and whale outflows have increased.
Key Points
1. Bitcoin’s heat index at 44% signals a neutral market environment where neither buyers nor sellers dominate.
2. Realized profits dropped from $3.2 billion to $1.4 billion, indicating profit-taking without sharp price corrections.
3. Large holder outflows surged 178.67% over the past week, while inflows rose by 70.22%, suggesting potential capital rotation or distribution.
4. Bitcoin is trading near $118,000, with resistance at $119,900 and support around $116,400.
5. The Relative Strength Index (RSI) has declined from 63, indicating weakening bullish momentum.
Description
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