Bitcoin holders in India are experiencing profitability as new capital flows into the market, potentially setting the stage for a $100,000 BTC price retest. Short-term holders of Bitcoin are now back in profit, indicating a positive trend. Since February, long-term holders have acquired 363,000 BTC, while new buyers have injected funds into the market in April. However, there is a risk of sell pressure at $97,000, with 392,000 BTC possibly being sold at that level. Bitcoin’s recent surge above $91,700 on April 22 has surpassed the short-term realized price, signaling a favorable scenario for short-term holders. This resurgence in profitability for short-term holders typically leads to a bullish outlook and could pave the way for a potential push towards the $100,000 mark. Analysts note that the last strong resistance level remains at $96,100, beyond which the next target of $100,000 opens up. The concentration of approximately 392,000 BTC at an average cost basis of $97,000 could create a resistance zone, posing a potential obstacle to Bitcoin’s upward momentum. Despite this, there are indications of continued strength in Bitcoin’s price action, with possible price targets of $131,500, $144,900, and $166,700 according to the Wyckoff pattern analysis. This pattern suggests accumulation by large players, signaling a positive trend for Bitcoin as the market absorbs supply and gears up for an uptrend. The overall sentiment in the market points towards a positive trajectory for Bitcoin, with potential gains expected. This news is not investment advice, and readers are encouraged to conduct their own research before making any financial decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin holders in India are experiencing profitability as new capital flows into the market, potentially setting the stage for a $100,000 BTC price retest. Short-term holders of Bitcoin are now back in profit, indicating a positive trend. Since February, long-term holders have acquired 363,000 BTC, while new buyers have injected funds into the market in […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/107485"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=107485"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/107485\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=107485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=107485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=107485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}