
Jakarta, Pintu News – The Bitcoin market is currently experiencing increasing selling pressure, characterized by bearish dominance in recent price action. The latest on-chain analysis shows that panic-induced selling is further aggravating market conditions. With losses tripling compared to realized gains, the big question that arises is: is there any hope of recovery in the near future?

According to a recent post on the CryptoQuant platform, analyst GugaOnChain revealed that the Bitcoin market is in a capitulation phase. The Bitcoin Real Gains and Losses ($) metric used shows that investors incurred real losses of $1.7 billion compared to gains of only $605 million.
This signals that many investors are choosing to sell their assets amid market uncertainty. This reflects a strong negative sentiment among Bitcoin holders, which may continue to exacerbate the selling pressure. Further analysis suggests that if this trend continues, Bitcoin may face a deeper price drop.
Also Read: 5 Important Facts from Bitcoin’s (BTC) Latest Prediction: US$125,000 Target?
In its analysis, GugaOnChain emphasized several price zones that are critical for the future of Bitcoin. One of the levels that bulls must defend is $71,450, which is the realized price for investors who bought Bitcoin between 12 and 18 months ago. If the price drops below this level, there could be a significant further decline. Additionally, the next key support lies at $58,940, which is the realized price for investors with Bitcoin holdings between 18 months to 2 years. This zone is very important as it could be a turning point in case of further declines.

While Bitcoin is under pressure, Ethereum is showing signs of strength with indicators suggesting the possibility of a big move ahead. On the other hand, CEO of Digital Ascension Group, Jake Claver, revealed that ultra-rich families are now turning to Ripple as a key investment asset, leaving Bitcoin behind.
This shift indicates a diversification in investment preferences among crypto investors, which might affect the overall market dynamics. With this change, XRP may get more attention and investment, which could affect its exchange rate in the market.
With selling pressure mounting and losses outpacing gains, the Bitcoin market is currently in a critical phase. However, an understanding of key price levels and changing investor preferences can provide insight into the market’s next direction. Whether Bitcoin will bounce back or continue to slide, only time will tell.
Also Read: 10 Ways to Learn Crypto from Zero: Basic Guide to Start Investing Safely
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
A1: The capitulation phase is a period where asset prices fall significantly and rapidly, often due to massive selling by investors who panic or lose confidence.
A2: The Bitcoin market recently recorded an apparent loss of $1.7 billion, while realized gains were only $605 million.
A3: The price levels of $71,450 and $58,940 are important because they represent the realized price for investors who bought Bitcoin within a certain time frame, and a drop below these levels could trigger further price declines.
A4: Currently, Bitcoin is under heavy selling pressure, while Ethereum is showing signs of strength with indicators suggesting a possible big move ahead.
A5: The uber-rich investors may turn to Ripple (XRP) as they look for different asset diversification and growth potential, which they may find more promising compared to Bitcoin at the moment.