{"id":131591,"date":"2024-11-30T00:57:46","date_gmt":"2024-11-29T17:57:46","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=131591"},"modified":"2024-11-30T00:57:46","modified_gmt":"2024-11-29T17:57:46","slug":"is-bitcoin-bottom-in-seller-exhaustion-suggests-btc-is-about-to","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=131591","title":{"rendered":"Is Bitcoin bottom in? Seller exhaustion suggests BTC is about to&#8230;"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">While BTC consolidated, whales bought a substantial amount of BTC.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">The RSI revealed that there was more room for buying, supporting the possibility of a bull rally.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After showcasing impressive performance in November, <\/span><a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400;\"> has now entered a consolidation phase. However, a crucial BTC metric flashed a signal, which indicated a possible change in market sentiment. Will this push be enough to send BTC to $100k next?<\/span><\/p>\n<h2><b>Is this a Bitcoin bottom?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">After touching $99k last week, BTC witnessed a major correction as it fell to $91k. However, things started to get better as BTC hovered around the consolidation zone of $96k. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, the king coin was trading at $96,431.49 with a market capitalization of over $1.9 trillion. This all happened amidst speculations of BTC targeting $100k. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The good news was that the latest analysis indicated a similar possibility. Glassnode\u2019s recent <\/span><a href=\"https:\/\/x.com\/glassnode\/status\/1861788050214277533\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> revealed that the Seller Exhaustion Composite for Bitcoin flashed a signal on the weekly timeframe, hinting at a positive shift in market sentiment. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This could mean that Bitcoin was in its market bottom. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ali Martinez, a popular crypto analyst, also posted a <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/1862091820135600292\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> hinting at BTC to $99k in the coming days. Martinez\u2019s tweet pointed out a falling wedge pattern on BTC\u2019s chart, which suggested a possible Thanksgiving rally. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition BTC whales are stockpiling the coin. Caueconomy, an author and analyst at CryptoQuant, posted an <\/span><a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/67489709f175a34370495aec-Whales-take-advantage-and-accumulate-US15-billion-in-Bitcoin-in-the-last-dip?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=caueconomy\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">analysis<\/span><\/a><span style=\"font-weight: 400;\"> revealing that almost 16,000 BTC entered whale reserves. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This number continued to increase, corresponding to almost $1.5 billion in on-chain accumulation. This was a clear example of \u2018buy the dip\u2019 strategy, reflecting the big pocketed players\u2019 confidence in Bitcoin.\u00a0<\/span><\/p>\n<div id=\"attachment_447507\" style=\"width: 1730px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447507\" class=\"wp-image-447507 size-full\" alt=\"BTC whales are accumulating\" width=\"1720\" height=\"966\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM.png 1720w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-300x168.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-1024x575.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-768x431.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-1536x863.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-1200x674.png 1200w\" data-lazy-sizes=\"(max-width: 1720px) 100vw, 1720px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447507\" class=\"wp-image-447507 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM.png\" alt=\"BTC whales are accumulating\" width=\"1720\" height=\"966\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM.png 1720w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-300x168.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-1024x575.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-768x431.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-1536x863.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-29-at-12.46.03\u202fPM-1200x674.png 1200w\" sizes=\"auto, (max-width: 1720px) 100vw, 1720px\"\/><\/a><\/p>\n<p id=\"caption-attachment-447507\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<h2><b>Odds of BTC moving to $100k<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">All these metrics that suggested a move towards $100k was also backed by Bitcoin\u2019s Pi Cycle top indicator. If the indicator is to be believed, then BTC has a possible market top above $123k. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, if BTC\u2019s current price is not its bottom, then the king coin might drop to $68k, as suggested by the same indicator.\u00a0<\/span><\/p>\n<div id=\"attachment_447511\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447511\" class=\"wp-image-447511 size-full\" alt=\"BTC Pi Cycle Top indicator\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-1200x675.png 1200w\" data-lazy-sizes=\"(max-width: 1800px) 100vw, 1800px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447511\" class=\"wp-image-447511 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3.png\" alt=\"BTC Pi Cycle Top indicator\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/glassnode-studio_btc-pi-cycle-top-indicator-usd-3-1200x675.png 1200w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\"\/><\/a><\/p>\n<p id=\"caption-attachment-447511\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">AMBCrypto\u2019s analysis of BTC\u2019s daily chart revealed that it was testing its resistance of the 9-day MA. In case of a bullish breakout, it might kickstart a fresh rally towards $100k as we approach the festive season. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In fact, after reaching 82, Bitcoin\u2019s Relative Strength Index (RSI) dropped to 66.\u00a0<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Bitcoin\u2019s [BTC] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2024\u20132025\u00a0<\/span><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">This meant that there was more room for buying, which could provide the required push to break above the resistance in the coming days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, it will also be crucial for BTC to breach the $99k resistance to hit a triple digit value.\u00a0<\/span><\/p>\n<div id=\"attachment_447513\" style=\"width: 2720px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447513\" class=\"wp-image-447513 size-full\" alt=\"\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-1200x645.png 1200w\" data-lazy-sizes=\"(max-width: 2710px) 100vw, 2710px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447513\" class=\"wp-image-447513 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16.png\" alt=\"\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/BTCUSD_2024-11-29_12-54-16-1200x645.png 1200w\" sizes=\"auto, (max-width: 2710px) 100vw, 2710px\"\/><\/a><\/p>\n<p id=\"caption-attachment-447513\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<p>\u00a0<\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/cardano-breaks-this-bullish-pattern-is-1-52-adas-next-stop\/\" rel=\"prev\" data-wpel-link=\"internal\">Cardano breaks THIS bullish pattern, Is $1.52 ADA\u2019s next stop<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/is-bitcoin-bottom-in-seller-exhaustion-suggests-btc-is-about-to\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While BTC consolidated, whales bought a substantial amount of BTC.\u00a0 The RSI revealed that there was more room for buying, supporting the possibility of a bull rally.\u00a0 After showcasing impressive &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=131591\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-131591","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=131591"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131591\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=131591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=131591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=131591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}