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Bitcoin (BTC) is currently exchanged just less than $ 88,000, a significant drop compared to the historical maximum of $ 109,000 at the beginning of this year. In the last month, the leader cryptocurrency had to face a constant decline, sliding almost 15% and showing limited signs of a rebound.
While this bearish tendency has many interested investors, a cryptoquate analyst, Bilalhuseynov, has recently shared its perspective on the current state of Bitcoin using the indicator of the demand for retail investors (RID).
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Question of Bitcoin Detail Investors to a crossroads
Bilalhuseynov’s analysis focused on the demand for retail investors (RID). This metric, which measures interest and retail activity in Bitcoin, can often provide information on potential price movements.
According to the analyst, the demand for retail investors recently faced a resistance near the neutral area of about 0%. In mid -February, Rid’s indicator attempted to cross this threshold but was not short, resulting in the drop of Bitcoin at the current level of $ 88,000.
However, despite this setback, there are positive signs. The analyst observed that the ID is starting to resume, a model reminiscent of June 2021 when Bitcoin saw a quick recovery after a similar dip.
However, so that the metric truly reports a positive turning point, should rise above the neutral area of 0%, indicating a potential movement of the feeling of the market. Bilalhuseynov further develops the way Rid metric can guide long -term analysis. Identify three key levels:
• Negative (-15%): a strong indicator to look at for purchase opportunities.
• Neutro (0%): a sign that the market could prepare for movements in both directions.
• Positive (15%): suggests that the Bitcoin price entered a “premium area”, often observed during the bull markets.
The analyst gave an example, underlining that in October 2024, a wave above the neutral area of 0% coincided with Bitcoin who reached its historic maximum.
On the contrary, a dive to 0% at the end of 2024 marked the beginning of a bearish phase. Currently, Rids are located in a critical moment and a shift of retail demand could influence Bitcoin’s trajectory in the coming months.
Short -term indicators indicate potential rebound opportunities
In the meantime, other analysts are identifying short -term purchase opportunities based on different metrics. Yonsei Dent, another cryptoquate analyst, has indicated the profit relationship of the exhausted production (sop) for the short -term Bitcoin holders (STH).
This metric, which measures if the short -term owners are selling profit or loss, has recently fallen to levels that historically have indicated overlapping conditions.
According to Dent, the application of Bollinger bands on STH-SOPR helps to identify extreme deviations and current data show a model similar to previous market funds.
Dent observed that any significant decision to the down STH-SOPR has been followed by a short-term rebound that varies from +8% to a number of +42%, even during the conditions of the bears market.
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This historical context suggests that Bitcoin could be close to a critical situation. If the model is valid, a recovery of short -term prices could be on the horizon, offering an opportunity for short -term traders.
Foreground image created with Dall-E, Tradingview graphic designer