Will Bitcoin crash below $100k as network activity nosedives 45%?
2025-07-01 08:59:29
Main Idea
Bitcoin's price consolidation around $107,000 is accompanied by signs of weakening large transactions and declining capital inflows, suggesting potential volatility ahead.
Key Points
1. Large Bitcoin transactions (over $100,000) have decreased by 45.3% in the past month, indicating potential weakening confidence and thinning liquidity.
2. Capital inflows into cryptocurrencies have declined by over $20 billion, reflecting a shift in investor sentiment.
3. Bitcoin's key support level is at $105,000; holding above this level is critical for any attempt to reclaim $110,000 and push toward new all-time highs.
4. Bitcoin remains technically bullish, trading above its 50-day and 200-day simple moving averages, but the 14-day RSI suggests overbought conditions.
Description
As Bitcoin ( BTC ) consolidates around the $107,000 mark, on-chain data is showing signs of fatigue, suggesting a potential price move may be imminent. Specifically, the number of large Bitcoin transactions exceeding $100,000 has decreased by 45.3% over the past month. The transactions peaked at around 30,840 on May 22 but fell to just 16,860 by June 29, according to data from the crypto analytics platform IntoTheBlock . Bitcoin whale transaction data. Source: IntoTheBlock The steep decline ofte...
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