Bitcoin’s miner stress eases – Will history repeat with a BTC bull run?
Main Idea
Bitcoin shows signs of potential rebound despite miner stress, profit-taking, and weakened scarcity, with strong support and positive funding possibly sustaining its bullish structure.
Key Points
1. Bitcoin's Hash Ribbons indicator suggests potential accumulation zone before recovery, with BTC trading at $116,228, down 1.84% in 24 hours.
2. BTC holds within bullish structure despite sharp pullback from $122,000 resistance, trading near $112,000 with Stochastic RSI below 20.
3. SOPR Ratio surged to 3.82, indicating long-term holders may be cashing out, resembling previous distribution phases before local peaks.
4. Bitcoin’s Stock-to-Flow (S2F) Ratio dropped by 77.78% to 707.45K, signaling weakened scarcity dynamics and raising questions about long-term valuation.
5. OI-Weighted Funding Rate at +0.0151% shows bullish sentiment, but overly confident long positions remain vulnerable to liquidations.
6. End of Hash Ribbons signal often precedes price recoveries, with current technical support holding firm.
Description
BTC remains structurally bullish as miner stress fades, despite profit-taking signals from long-term holders.
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