Bitcoin miners have moved over 2,000 BTC in recent days, leading to speculation about the potential impact on the BTC price. The market is closely watching as BTC approaches the 23.60% Fibonacci retracement support level at $94,393. Recent sell-offs in the market have resulted in significant liquidations and a decline in BTC miner holdings. The market is uncertain about BTC's short-term direction and the level of demand to handle the increase in supply. If BTC fails to maintain support at $94,393, it could lead to a more significant correction phase with the price potentially dropping to the $92,000–$93,000 support zone. The recent price fluctuations have caused substantial market liquidations, creating volatility and uncertainty. While on-chain data shows accumulation trends, market sentiment is mixed, and BTC price predictions remain unclear. At the time of writing, BTC is trading at $96,358.34, down 1.87% in the past 24 hours.



Other News from Today