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BTC price action looked weaker after Sunday's weekly close below the 200-week MA, with Bitcoin market participants bracing for lower levels.) failure to close the week above the 200-week exponential moving average on Sunday put it at risk of another downward leg over the coming weeks or months.
Bitcoin price signals “structural weakness” with failure to close week above a key trend line.Bitcoin price weakness sparks sub-$50,000 targetsevery time Bitcoin rises to key accumulation levels, and commenting on the current market setup, many traders warned that any downside could snowball quickly.“Consolidate here for a day or two, and those untapped lows look ripe for the taking.”“BTC has lost the EMA50 once again, and the global crisis feels more insecure today than it did 2 weeks ago,” fellow analyst Stockmoney LizardsCombined with the technical weakness, “it looks like we could be revisiting the sub-$60K area,” the analyst added.“Deep structural” support for BTC is at $47,000 Bitcoin is trading near the 200-week EMA at $68,300, coinciding with the realized price of the “largest holder cohort ,” according to CryptoQuant analyst Axel Adler Jr. “As long as the price holds above $68K, the largest cohort remains near its cost basis and maintains a more resilient position,” Adler Jr.“A move below this level would signal deteriorating structure and increase the likelihood of a more nervous reaction from large holders.”Meanwhile, the realized price of the 10-100 BTC holder cohort sits notably lower around $46,700, forming a “deep structural threshold that would become meaningful only in the event of a full-scale deterioration in market regime,” the analyst added. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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