While the crypto market tries to recover from the decline at the beginning of the week, investors continue to move cautiously. Although Bitcoin exceeded $ 106,000 on Thursday, it fell to $ 104,000 on Friday.
Bitcoin tested 106 thousand dollars, but profit sales put pressure
In the last 24 hours, the total value of the crypto market increased by 0.4 percent and reached 3.57 trillion dollars. However, it is still 1.4 percent low compared to last week. While a slow and irregular recovery process is experienced in the market, investors avoid excessive optimism.
The crypto sensitivity index reached 76 on Friday and entered the “extremely greed” zone. This was recorded as the highest level of the last two and a half weeks. However, a strong Fomo (fear of kidnapping)The fact that it does not occur weakens the expectation of bulls to make a quick profit. In traditional markets, such a cautious rise is often considered more sustainable.
Crypto Mining and Investor Sales Print Bitcoin
One of the biggest reasons why Bitcoin has exceeded $ 106,000 is that investors sell profits at these levels. In recent weeks, Bitcoin owners sold approximately 75,000 BTC ($ 7.5 billion), while miners have sold 20,000 BTC (approximately 2 billion dollars) in mid -January.
Glassnode, the On-Chain Analysis company, says that there is a slowdown in the sales rate of long-term investors. Cryptoquant emphasizes that leverage rates in Bitcoin derivative markets do not reach excessive levels in the 2021 bull rally. This shows that the market may be in a more balanced rise trend.
Corporate and state purchases provide support to Bitcoin
According to Bitwise’s analysis, Bitcoin is expected to exceed $ 200,000 in 2025 based on historical data. The basic basis of this prediction includes demand for Bitcoin ETFs and BTC purchases of some countries and large companies.
Tesla announced that in the last quarter of 2023, Bitcoin has made a profit of $ 589 million. The total net profit of the company reached 7.1 billion dollars as of 2024, while it has 11,509 BTC ($ 1,21 billion).
On the other hand, El Salvador Parliament quickly approved the draft law, which includes changes in the Bitcoin strategy of the country within the scope of agreements with the International Monetary Fund (IMF). The country, which plans to receive a loan of $ 1.4 billion from the IMF, is currently 6,049 BTC ($ 635 million).
