Bitcoin’s big barrier is $ 6,000

The amount of capital entry into the currency exchanges has declined that has not been seen since year 6. Bitcoin’s negative financing rates have the potential to lead to a sudden jump in demand and price increase. The price of bitcoin (BTC) is now higher than the key moving averages, and these averages can play the role of support levels.

The price of Bitcoin, with the BTC’s abbreviation symbol on May 3, reached a new peak at $ 4.9, which is the highest price since March 12. A number of analysts believe that the next mental resistance is still at $ 4.9, and the price is likely to fall for lower support levels.

“The price area of ​​$ 5 to $ 5,000 is clearly a resistance level that needs to be broken,” Swiss Block said in a post released on May 4 on the X -Social Network. The provider of intra -chain data emphasized that the next logical move for Bitcoin could be a price correction to the $ 4.9 area to collect the necessary force for more climbs.

“The digital currency will probably be stabilized at a price range of $ 4.9 to $ 4.9, before moving to higher levels to attract liquidity above $ 6,000,” said Bitcoin’s famous analyst, Alphabtc. “District $ 1 to $ 5,000 can be the next scope for buyers’ power, but given the strength of the bitcoin structure, these price reductions are good opportunities for shopping.”

There are several ascending signs that Bitcoin is in a favorable position to cross the $ 4.99 border in the coming days or weeks. One of the main reasons for this ascending view is the increase in demand for institutional investors, which is clearly seen in the significant entry of capital into the Bitcoin Stock Exchange.

According to SOSVALUE data, Bitcoin ETF funds saw a net entry of $ 5 million and $ 2 million, respectively, on May 1 and May. As the Quinn Telegraph website reports, this volume of capital entry is the highest since January of this year and is more than 5 times the daily average of 2 years.

This trend represents an increase in confidence among traditional financial activists. As market analysts such as Jimmy Coats have pointed out, global liquidity has reached an unprecedented peak, and this situation usually leads to the rise in the price of different assets.

Institutional purchases, by attracting available market supply, put a continuous upward pressure on bitcoin prices. Also, the decline in Bitcoin’s entry into the currency exchanges continues, indicating a possible reduction of sales pressure on the market. According to Cryptoquant data, the total amount of bitcoins transferred to the currency exchanges has fallen from its annual peak, 4.1 units per day on March 1, to 4.3 units per day on May 9.

This is strengthened by the decrease in the number of Bitcoin deposit addresses; According to Cryptoquant analyst Adler Jr., the process has been “continuously declining since year 4.” He points out that the thirty -day moving average of the index reached 4.3 bits, the last time was seen in December.

The analyst added that “this decline in itself was a sign of ascents because it represents a four -fold drop in coins for the past three years,” the analyst added, “In essence, the situation indicated an increase in the desire to have long -term (hoodling), which dramatically reduced sales pressure and provides the basis for further growth.”

The price of Bitcoin has returned to the level that was last seen in early March last year, but futures have not yet been fully aligned. According to GlassNode data, the permanent financing rates of the Bitcoin futures trading between May 2nd and 3rd, despite a 5 % increase in the same period, remained negative.

The negative financing rates indicate that the sellers are paying for long -term buyers, which reflects the descending emotions and can raise prices by raising prices. Darkfast, one of the Cryptoquant participants, pointed to a similar difference between bitcoin prices and binoculars’ financing rates in a post on May 2 on the social network X.

Darkfost explained: “As Bitcoin continues to go up, financing rates in the bonding currency exchange have been negative and at the time of writing this is about -0.5.” He added that this is a rare thing that has been common in the past with significant price increases; Just like the Bitcoin mutation from about $ 6,000 to $ 6,000 in October, and its rise from $ 6,000 to $ 6,000 in September.

If the past is repeated, it is likely that Bitcoin will go beyond current prices and move to $ 6,000 with the resistance level of $ 4,000. On May 1, the price of Bitcoin passed a vital level: the simple 6 -day moving average, which is currently in the $ 2,800, brought recovery throughout the market.

The last time BTC crossed the top of the simple 6 -day moving average, saw a rare move, reaching a peak of its former historic price on October 5, with a 5 % growth of $ 6,000 on October 5, $ 6,000 on December 5.

Since Bitcoin is currently above this key line of trading, it is expected to create a strong support area. However, if this level is lost, the next levels that should be taken into consideration will probably be $ 6,000 (simple 4 -day moving average) and the psychological level of $ 6,000.

For buyers, resistance levels are $ 6,000 and $ 6,000, the main areas for monitoring. The successful passage of these levels will pave the way for the highest price recorded on January 2, more than $ 6,000.