Bitcoin: Fatigue selling rises, but market panic stalls – What’s next?
Bitcoin is trading near $68,700 after a 30% retracement, driven by profit-taking and ETF outflows, but the market shows controlled deleveraging rather than structural failure. The price remains well above the aggregate realized price of $54,900, preserving a profitability buffer. Long-term holders, with a cost basis near $40,600, continue to absorb sell pressure and tighten supply, preventing full capitulation. Recent entrants, however, remain underwater. Whale activity has intensified, with large holders repositioning strategically, contributing to sell-side pressure. Yet, residual demand has absorbed some supply, slowing downside momentum. The market is experiencing a mid-cycle compression phase with orderly redistribution, as forced selling meets passive absorption, building a base within the $55,000–$72,000 range.
ambcrypto02/16 11:01