According to CoinStats, the majority of cryptocurrency holdings remain concentrated in the hands of sellers.
The value of Bitcoin (BTC) has experienced a 3.63% decrease within the past 24 hours.
Examining the hourly chart reveals that BTC is hovering close to a local support level at $87,010. Should the daily candle close beneath this threshold, traders might anticipate further downward movement toward approximately $86,000 in the near term.
Looking at a broader timeframe, Bitcoin’s price is positioned away from significant support or resistance zones.
With no clear dominance from buyers or sellers, it appears likely that BTC will continue trading sideways between $86,000 and $89,000 for now.
From a medium-term perspective, similar conditions persist. Declining trading volumes suggest limited potential for sudden price swings soon. Overall, market participants can expect consolidation within a range spanning roughly $84,000 to $90,000 through month-end.
At present moment of reporting, Bitcoin is priced around $87,170.