Bitcoin dey consolidate for $104K wit $94K–$97.9K support
Bitcoin don dey trade steady around $104,000 after e peak near $109,000, e get beta support from on-chain metrics wey balanced well and technical levels. CryptoQuant talk say tight support zone dey between $94,000 and $97,900, dem base am on 111-day and 200-day moving averages plus short-term holders’ realized price dem. On-chain data show say the seven-day moving average of realized profits dey under $1 billion and the new-supply-to-dormant-supply ratio don dey drop since May, e mean say people no dey take plenty profit and demand dey cool down. Retail sentiment don turn bearish, as only 1.03 bullish comment dey for every bearish one—na lowest since April—historically, this one mean say na good buy signal. Together, these things show say Bitcoin fit hold steady near the current level and fit bounce back from the support zone wey dem identify.
Bullish
Di konba wen di $94K–$97.9K support zone we sabi, plus small small money we dem don make and demand we dey cool down, e talk say Bitcoin no get plenty chance to fall well well. Di way bearish retail people dey think—wey normally mean time to buy—come add more reason say e get chance to rise. Technical, on-chain, and sentiment signs dey show say traders fit find chance to buy around di level we dey now, e go support short-term bounce and stable condition for medium term.