2 Minutes
Weekly Close Sees BTC Hold Critical Support
Bitcoin managed to hold the key weekly support level at $108,700, according to TradingView data. Market analyst Rekt Capital noted that stability above this zone could clear the way for a push toward $120,000. As of publication, BTC was trading around $110,000, confronting resistance just above that mark as the market splits between profit-takers and patient holders.
Sentiment Slide: Fear & Greed Index Drops Sharply
Sentiment metrics
Crypto sentiment has swung into "Extreme Fear" over the past week. Alternative.me's Fear & Greed Index plunged from 64 (Greed) to 22, while CoinMarketCap's index fell to 28 from 54, signaling broad risk aversion among traders and investors. Renewed US–China trade tensions contributed to the risk-off mood as gold surged above $4,230 per ounce, emphasizing a classic flight-to-safety dynamic.
On-Chain Flows Add Bearish Weight
Long-term holders selling
On-chain data show long-term holders sold about 265,700 BTC in the past month — the largest outflow since January — reinforcing downward pressure. This large transfer of coins to market supports the narrative that some investors are locking in gains amid uncertainty.
What Traders Are Watching Next
Trader Tony 'The Bull' Severino says the next 100 days could determine whether Bitcoin enters a parabolic rally or if this marks the end of the current bull cycle. Key crypto indicators to watch include BTC support and resistance levels, on-chain accumulation, and macro drivers such as US–China relations and safe-haven flows into gold.
Source: cryptonews
Leave a Comment