CryptoQuant's research report indicates that Bitcoin demand may have peaked, with the price potentially pulling back to below $100,000. The accumulation rate of whales has slowed, which could lead to a price fall. Trader Mags points out that if Bitcoin's price fails to
PANews reported on May 31 that according to Cointelegraph, the latest research report from the on-chain analysis platform CryptoQuant shows that Bitcoin demand has peaked, and it may pull back below $100,000. Profit-taking has interrupted the Bitcoin bull run, and some demand indicators for Bitcoin may be reaching short-term peaks, which could mean the current rise will pause. Additionally, Whale accumulation speed is slowing down, and prices may drop below $100,000. Trader Mags analyzed that on the daily chart, BTC has fallen below the previous historical high and is facing rejection at the same level. If BTC closes below the horizontal support level and resistance level on a weekly basis, a deeper pullback may be seen.
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Analysis: Bitcoin's recent rise has encountered resistance. If it loses key support, it may undergo a pullback.
PANews reported on May 31 that according to Cointelegraph, the latest research report from the on-chain analysis platform CryptoQuant shows that Bitcoin demand has peaked, and it may pull back below $100,000. Profit-taking has interrupted the Bitcoin bull run, and some demand indicators for Bitcoin may be reaching short-term peaks, which could mean the current rise will pause. Additionally, Whale accumulation speed is slowing down, and prices may drop below $100,000. Trader Mags analyzed that on the daily chart, BTC has fallen below the previous historical high and is facing rejection at the same level. If BTC closes below the horizontal support level and resistance level on a weekly basis, a deeper pullback may be seen.