

Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of February
Technical indicators such as the OBV showed that selling pressure has been dominant, meaning more losses may be likely ahead.
Bitcoin [BTC] price at the time of writing was on a downtrend after losing the $92,000-support level in the final week of February. Technical indicators such as the OBV showed that selling pressure has been dominant, meaning more losses may be likely ahead.
Source: CryptoQuant
In a post on CryptoQuant, analyst Darkfost pointed out that apparent demand has been falling since December. The apparent Bitcoin demand chart compares the new supply to the supply that has been inactive for a year. This chart identifies whether the new BTC is being absorbed into the market due to demand or if there is a lack of buying pressure.
The apparent demand ratio fell below zero towards the end of February, coinciding with the loss of the $92k support. And, it has remained negative since. Hence, AMBCrypto analyzed other metrics to understand holder behavior better.
Bitcoin faces intense short-term bearishness, but HODLers have some hope
Source: CryptoQuant
Whale holders with a holding period of under 155 days are classed as short-term holders (STHs). These STH whales saw unrealized losses in the final week of February as the price maintained its downtrend.
The STH whales’ unrealized losses reached their highest point ever on 11 March, with the value being a whopping $17.52 billion. It receded slightly lately, but showcased the possibility of further selling to protect against greater selling. In fact, it also created and maintained fearful sentiment across the market.
Source: CryptoQuant
Finally, the sum coin age distribution analyzes the age of Bitcoin’s unspent transaction output [UTXO]. The metric gives more weight to the older coins. The age bands are formed based on the age of the UTXOs.
Rising values of the SCA within these age bands indicate HODL behavior or accumulation while falling values indicate distribution and hike in sell pressure.
Since late January, the 1 month-18-month age bands have generally seen increased holding and accumulation behavior. The 6-12 month age band has trended down noticeably over the past week. This hike in holding sentiment across different age bands is a positive sign.
The STH whales metric showed that recent, large BTC buyers were deep underwater. The weak apparent demand showed that there was a lack of immediate buying pressure to absorb the supply. However, medium to long-term holders appeared to retain some confidence, based on the SCA distribution.
Until the short-term pressure eases, Bitcoin could see another price drop below $80k.
The above is the detailed content of Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of February. For more information, please follow other related articles on the PHP Chinese website!

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

Notepad++7.3.1
Easy-to-use and free code editor

SublimeText3 Chinese version
Chinese version, very easy to use

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver CS6
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Hot Topics











This new financial instrument would track the token's market price, with a third-party custodian holding the underlying AVAX

In a devastating blow to investors, the OM Mantra cryptocurrency has collapsed by approximately 90% in the past 24 hours, with the price plummeting to $0.58.

Zcash was one of the top gainers during the latest market rally, reaching a high of $35.69 as traders moved a record amount of tokens out of circulation.

A group of former Kraken executives acquired U.S.-listed company Janover, which secured $42 million in venture capital funding to begin building a Solana (SOL) treasury.

The global economic landscape is continuously shifting, and one of the latest disruptions comes from former U.S. President Donald Trump's imposition of tariffs

The Dogecoin price plummeted 17% in the last 24 hours to trade at $0.1365 as of 4.30 a.m. EST on trading volume that skyrocketed 271% to $2.24 billion.

Have you noticed the meteoric rise of meme coins in the cryptocurrency world? What started as an online joke has quickly evolved into a lucrative investment opportunity

As fear drives selling in the crypto market, major coins like Cardano and Solana face tough times.