Bitcoin has commenced the new week with notable momentum following a brief stabilization near its all-time high at the end of last week. Currently trading around $110,000, the cryptocurrency exhibits robust technical indicators, leading analysts to anticipate further upward price movement. Market volatility has diminished, and the overall trend is strengthening, suggesting that Bitcoin is approaching a phase of price rediscovery.
According to prominent analyst Axel Adler, Bitcoin miners have increased their selling activity subsequent to the historic peak. The daily inflow of Bitcoin from miners to exchanges has risen from 25 to 50 BTC, indicating a tendency toward profit-taking. Despite this uptick, the selling volume remains well below previous record highs of approximately 100 BTC per day.
Interestingly, the market has absorbed this additional supply without displaying signs of weakness. This resilience implies sustained strong demand, mitigating the pressure that miner sales might exert on the prevailing bullish momentum. Such dynamics are being interpreted as a healthy and anticipated adjustment following a significant price milestone.
Bitcoin’s price has stabilized near $112,000, with the four-hour chart showing levels around $109,676. Even after a minor pullback, the asset has maintained its bullish structure, remaining above key moving averages. This suggests persistent buyer interest and firm positioning. Should the price decisively break through the $111,000 to $112,000 range with substantial volume, it could pave the way for the next significant upward leg.
Globally, escalating geopolitical tensions have injected uncertainty into markets, positioning Bitcoin as both a protective asset and a higher-risk investment option. Collectively, Bitcoin’s current technical strength, supportive on-chain metrics, and resilient demand converge to establish a solid foundation for continued bullish momentum.
For a more detailed analysis, the full report is available here: https://bitcoinist.com/bitcoin-miners-increase-selling-pressure-post-ath-market-absorption-stays-strong/
