Key Takeaways
- • Bitcoin traded near $81.5K, down about 1% over 24 hours, while holding above its 50-day moving average even as the broader crypto market (down 1.4% to $2.72T total capitalisation) weakened.
- • Strategy added 267 BTC at an average price of $82.9K in its fifth consecutive weekly purchase, bringing its holdings to 848,517 BTC at an average cost of $75.4K per coin.
- • Per CryptoQuant, long-term holders have largely stopped selling, but new buyers needed to push prices higher have not yet appeared.
- • Lookonchain data shows MARA Holdings transferred 1,000 BTC to exchanges over five days, a movement that may signal preparation for a sale, though no sale has been confirmed.
- • Bitcoin mining difficulty rose 5.92% to a seven-month high, while miner activity increased nearly 30% over the past month.
Summary
The total cryptocurrency market capitalisation fell 1.4% to $2.72 trillion, moving toward the lower boundary of a narrow consolidation range seen over recent days. Bitcoin dropped roughly 1% over the past 24 hours to $81.5K, but remained above its 50-day moving average, a divergence from the broader market that Investing.com (FxPro Analyst Team) highlighted. The article characterises the price action as a possible shift from the confident bull market of August and September toward a sideways trend or correction, similar to the pattern seen during much of July and August. Bitcoin has returned to the high point of its early September rally, which was followed by a correction that fitted a Fibonacci retracement pattern. The analysts noted that the subsequent upward momentum was only half as strong as technical analysis would suggest.
Altcoin performance was mixed. Basic Attention Token gained 11.3%, while Polkadot rose 2.7%, and the ratio of gainers to losers was approximately 1:4 across the market.
On the demand side, CryptoQuant indicated that investors who bought Bitcoin at high levels have largely stopped selling, but new buyers are still needed for further price gains and have not yet materialised. Strategy has continued its accumulation, buying Bitcoin for the fifth consecutive week, adding 267 BTC at an average price of $82.9K. The company now holds 848,517 BTC at an average price of $75.4K per coin.
Supply-side signals were also in focus. According to Lookonchain, MARA Holdings transferred 1,000 BTC to crypto exchanges over the past five days. The movement may indicate preparations for a sale, but no sale has been confirmed. MARA sold 20,880 BTC in the first quarter. On the mining side, the network's difficulty adjustment lifted mining difficulty by 5.92% to a seven-month high, and miner activity rose almost 30% over the past month, even as some capacity has been redirected to support AI this year.
Altcoin performance was mixed. Basic Attention Token gained 11.3%, while Polkadot rose 2.7%, and the ratio of gainers to losers was approximately 1:4 across the market.
On the demand side, CryptoQuant indicated that investors who bought Bitcoin at high levels have largely stopped selling, but new buyers are still needed for further price gains and have not yet materialised. Strategy has continued its accumulation, buying Bitcoin for the fifth consecutive week, adding 267 BTC at an average price of $82.9K. The company now holds 848,517 BTC at an average price of $75.4K per coin.
Supply-side signals were also in focus. According to Lookonchain, MARA Holdings transferred 1,000 BTC to crypto exchanges over the past five days. The movement may indicate preparations for a sale, but no sale has been confirmed. MARA sold 20,880 BTC in the first quarter. On the mining side, the network's difficulty adjustment lifted mining difficulty by 5.92% to a seven-month high, and miner activity rose almost 30% over the past month, even as some capacity has been redirected to support AI this year.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.