Bitcoin Price Resistance at $82K Ceiling Faces Profit

Bitcoin Price Resistance at $82K Ceiling Faces Profit-Taking Risk

• BTC-USD

Based on the latest Bitcoin price analysis, more than 71% of Bitcoin’s circulating supply now sits in profit. Why does this number matter? It’s closing in on the 74.7% historical mean that Bitfinex says previously marked the handoff from bear market to bull market.

BTC price recovered to near $78,600 on Tuesday after slipping to an intraday low of $77,603, but it remained below the roughly $82,000 level the asset touched the previous week.

There is an important tension in Bitcoin price analysis setup. A rising share of profitable supply can be read as a sign of recovery, yet it also means more coins are sitting on paper gains near a price zone where sellers may emerge. Theconfirmation of a breakout

Bitcoin is currently trading within a range that has recently extended from roughly $77,200 to $82,100.

Bitcoin Price Analysis: A Recovery That Hasn’t Cleared the Ceiling

Tuesday’s session illustrated how fragile the current bounce remains. BTC fell to $77,603 before recovering near $78,600 by late morning. The rebound brought price back toward the middle of its recent range rather than above the upper boundary established near $82,000.

The swing also coincided with substantial liquidations. Roughly $79 million in Bitcoin positions were liquidated, contributing to $264 million in total crypto liquidations. Long positions accounted for $187 million of that total. The move showed how quickly leveraged positioning can be affected during a relatively contained price swing.

Bitfinex places the historical mean for supply in profit at 74.7%. It says prior moves above that level have typically marked transitions from bear to bull markets. However, the sameal. The measure describes the distribution of unrealized gains across supply; it does not by itself establish that price has broken out of its range

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Why the Same Price Level Now Carries More Profitable Supply

The shift becomes clearer when compared with May. According to Bitfinex, about 67% of the supply was in profit when BTC traded above $82,500 during its May consolidation. At comparable price levels now, the figure is above 71%. The short-term holder cost basis fell to $68,400 during the summer, reflecting accumulation at lower prices.

Source: finance.yahoo.com