The Bitcoin course is at the “decision point”, and it is important for the asset to get out of the current price corridor. This opinion was presented by analyst James Chek.
In My View, Its Pretty Important that Bitcoin Clears This Price Zone in the Near-Term.
We’re Sitting Right in the Middle of a Decision Point, and All it Will Take Is Red Or Green Candle From Gere to Convincy People of A Lower High, Or Bull Continuations, Respectively. pic.twitter.com/1xlhmoo14k
– _checkmate 🟠🔑⚡☢️🛢️ (@_checkmatey_) May 4, 2025
According to Glassnode, 88% of the first cryptocurrency proposal is “in profit” regarding the quotations of the last transaction. The value signals about the reboot of the expectations of investors without large -scale surrender.
88% of #Bitcoin Supply Remains in Profit, With Losses Concentrated Among Buyers from the $ 95k – $ 100k Range. This Metric Also Rebounded from Its Long-Term Mean, Indicating a Broad Reset of Investor Expectations Widespread Capitulation. pic.twitter.com/fl2odrp0br
– Glassnode (@glassnode) May 5, 2025
The MVRV indicator rolled back to the long -term average value of 1.74, historically related to the phases of consolidation.
At the time of writing, digital gold is traded in the area of $ 94,000. After an attempt to test $ 98,000, the rate was adjusted to the values recorded at the end of April.
The senior researcher in Glassnode under the nickname Cryptovizart noted that the rally to the $ 93,000-96,000 range raised the volume of profit-level fixing above statistical levels.
The Rally to $ 93k- $ 96k Has Pushed the Profit-Taking Volume ABOVE The Statistical LEVELS. For EVERY DOLLAR Realized in Loss More than 9 Dollars Was Realized in Profit!
The Fact that Price Is Still ABOVE $ 93K is Very Surprising, Which in My Humble Opinion Iso Risky. pic.twitter.com/w3zemwuc3j– Cryptovizart.₿ (@cryptovizart) May 5, 2025
Macroeconomics makes adjustments
Bitcoin traders expect news about the progress of trade negotiations between the United States and China. This was announced by Coindesk by LVRG Research Director Nick Cancer.
At the weekend, the Chinese Ministry of Trade said that he was considering the proposal of the United States to resume negotiations. President Donald Trump hinted that Beijing “wants to make a deal.”
Despite the skeptical mood of players in the Polymarket forecast market, they are skeptical (20% of the probability of agreement between the two largest economies in the world), Yuan “on the news” strengthened to a half -year maximum.
Glassnode previously called on Bitcoin-Books “Caution”. Analysts indicated that it is necessary to make sure that price consolidated above $ 91,000-93,000 due to the “weak” impulse in purchases.
According to experts, the levels of $ 93,000–95,000 are the level of short -term holders of short -term holders are $ 93,000–95,000 Levels are a “decisive battlefield” for the dynamics of the market.
From the Pectra hardforte, they expect an impulse for Ethereum
On March 10, the long-term holders accumulating Ethereum “switched to the territory of unrealized losses”, Kryptoquant Kryptoquant Karmelo Aleman Santan drew attention
But by May 3, this category of users only increased the total balance from ~ 15.5 million ETH to ~ 19 million ETH.
Ethereum developers planned on May 7 activation of the Pectra hardforte. The upgrade includes a series of improvements aimed at increasing the convenience and effectiveness of the network. One of the important innovations is the addition of the functionality of smart contracts to the wallets, which simplifies their use and restoration.
Since the beginning of the year, ether has steadily lost positions in relation to bitcoin. But on the eve of the hardforn, the “Bolinger Strips” indicator sharply narrowed.
The metric signals the upcoming increase in volatility in the asset. The trend largely depends on the direction in which the price breaks out of the designated corridor, noted the co -controling editor of Coindesk Omkar Godbul.
In his opinion, Pectra is a factor in the potential price movement.
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Source: Cryptocurrency
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