Crypto news

Bitcoin’s Sly Squeeze: Will Miners’ Grip Spark a Price Frenzy?

BBG News

Oh dear reader, gather ’round and heed my words, for Bitcoin, that most mercurial of coins, may be on the cusp of a most thrilling breakout! 🤔

Methinks the on-chain data whispers secrets of a quietly intensifying accumulation, and lo, the bullish signals begin to align like stars in a celestial ballet. 🌟

The Great Bitcoin Squeeze: Miners Hold Tight, Velocity Hits a 3-Year Low

Behold, dear reader, as BTC‘s Velocity, that trusty metric of coin movement, hath slowed to a crawl since July’s dawn, signaling a low-supply environment, a veritable drought of coins in circulation! 🌪️ On July 8, this on-chain metric, which measures the frequency of BTC’s changing hands, did close at a three-year low of 12.68, a number most auspicious.

When an asset’s velocity doth fall, fewer coins doth move through the network, indicating that holders, those wise and patient souls, do choose to sit tight, rather than trade or sell, like a miser clutching his gold. 💰

This, dear reader, is a bullish signal, a clarion call to investors, reflecting growing conviction and a gradual tightening of liquid supply, which can drive prices higher, like a mighty river bursting its banks, if demand doth increase. 🌟

And lo, Bitcoin’s Miner Reserve, that treasure trove of coins, hath climbed steadily over the past week, like a mountaineer ascending a lofty peak! Data from CryptoQuant doth show that miners have added 1,782 BTC to their holdings in the last seven days, pushing the total Miner Reserve to 1.81 million coins at press time, a veritable hoard of riches! 🏔️

The rise in BTC’s Miner Reserve since July’s beginning doth suggest a shift in miner behavior, a change of heart, toward holding rather than selling, as the market presses harder for a climb rally above $110,000, like a mighty storm brewing on the horizon. ⛈️

Bitcoin’s Next Move: Will Traders Pounce on the $110,000 Liquidity Zone?

An assessment of BTC’s liquidation heatmap, that clever tool of traders, doth reveal a notable concentration of liquidity around the $110,473 price zone, a veritable honey pot of opportunity! 🍯

Liquidation heatmaps, those colorful charts of wonder, do identify price levels where clusters of leveraged positions are likely to be liquidated, like a trap waiting to be sprung. These maps highlight areas of high liquidity, often color-coded to show intensity, with brighter zones (yellow) representing larger liquidation potential, like a beacon shining bright in the darkness. 💡

Usually, these cluster zones do act as magnets for price action, as the market tends to move toward these areas to trigger liquidations and open fresh positions, like a moth drawn to a flame. 🔥

Therefore, for BTC, the cluster of a high volume of liquidity at the $110,473 price level doth indicate a strong trader interest in buying or closing short positions at that price, creating room for a potential surge past $110,000 in the near term, like a mighty wave crashing on the shore. 🌊

However, dear reader, this will not happen if selling pressure gains momentum and new demand fails to enter the BTC market, like a door slamming shut. In this case, the coin’s price could fall toward $107,745, like a bird in flight, its wings clipped. 🐦

BTC’s price could breach support and slide toward $104,709 if buying pressure remains weak, like a ship without anchor, lost at sea. 🚣‍♀️

Read More

2025-07-09 11:26

Previous post Moncler Introduces Pre-Fall 2025 Collection of Seasonal Wardrobe Staples
Next post Neon Spellstorm turns spellcasting into a roguelite thrill, launching on mobile and PC this August