Bitcoin is approaching $ 100,000 because fewer owners have lost losses
Bitcoin briefly rose over $ 90,000 on April 22, which was particularly due to an increase in retail activities, but has had difficulty maintaining the dynamic above the $ 97,000 mark.
Despite the break near important resistance levels, on-chain data indicate healthier market prospects.
Sea Data from Cryptoquant is the proportion of Bitcoin stocks that are kept with loss-from almost a quarter of the total stocks in early April to only 11% on May 2.
This shift indicates that less owners make losses, which historically leads to a lower sales pressure and a stronger optimistic mood.
In absolute numbers, around 2.17 million BTC worth over $ 210 billion are still kept with loss. Although this number is far from the recordings, the severe decline in the needy offer is in line with the continued rally.
Bitcoin has increased over 3% in the past seven days and was traded at around $ 96,730 at the time of reporting. An increase to the psychologically important brand of $ 100,000 would only require a moderate increase of 3.38% – which is definitely possible in the area of the possible without sudden negative impulses.
