🚨 On-chain data alert! Key signals appear at the Bitcoin $89,000 level
🔥 Today's on-chain dashboard has lit up with a red alert, revealing hidden clues in the BTC price of $89,198 that all crypto enthusiasts should be cautious about:
🔍 Core data interpretation
📌- Net outflow from exchanges -729 BTC: Funds are quietly leaving, and whales are choosing to take profits at the $89,000 level, signaling a clear shift in market sentiment to caution.
📌- MVRV 1.59: Still within a reasonable valuation range, but has slightly dropped by 0.29% in the past 24 hours, indicating a decrease in short-term upward momentum.
📌- SOPR 0.986: Approaching the "surrender line," meaning some traders are starting to sell at a loss, and selling pressure is accumulating.
📌- Funding rate 1.20%: Maintaining a neutral level, there is currently no extreme sentiment in the leveraged market, and the long-short battle continues.
📊 Key support and resistance
🍀- Support level: $84,000 → This is the last line of defense for bulls; if it breaks, it will trigger a new wave of panic selling.
🍀- Resistance level: $90,000 → This is a strong resistance area recently; if it cannot effectively break through, the market will enter a phase of consolidation and adjustment.
🛠️ Operational advice
Currently, the system signals a Hold; this is not the time for blind bottom-fishing, but rather a moment to patiently wait for directional choice.
💎- If the price stabilizes at $90,000, consider gradually increasing your position.
💎- If it tests the $84,000 support, be prepared for risk control.
History does not simply repeat itself, but it always carries similar rhythms. At this key juncture where Bitcoin is challenging new highs, understanding on-chain signals is essential to avoid being swept away by market sentiment.💎$BTC $ETH $XRP
