$BTC is fluctuating delicately near the level of $88,700, entering the survival zone. The market is weighing the risk of a sell-off from GameStop against the long-term sustainability promised by the adoption of BIP-110.
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🔹 Bad News
GameStop has transferred its entire 4,710 BTC (worth ~420 million USD) to Coinbase Prime, raising concerns about liquidation.
With an average purchase price near $107,900, selling now would realize a loss of 76 Million USD.
Although large transfer orders often precede selling, this is merely the decision of a single business. With over 190 public companies holding BTC, institutional confidence remains intact.
🔸 Management
2.38% of nodes have implemented BIP-110, a soft fork aimed at limiting spam.
Despite being controversial, this move strengthens BTC's long-term credibility as a decentralized network, minimizing the risks of centralization due to bloated junk data.
🔹 Technical Pivot Point
BTC is in a correction phase after being rejected at $97.3k, trading below the 50, 100, and 200 EMA lines.
The price is forming a Bear Flag pattern in a broader uptrend. Small candle bodies indicate that selling pressure is weakening.
The $87,300 – $88,000 area is the final limit. Maintaining this zone will open up recovery opportunities; if it breaks, the door to $85,600 will be wide open.
🔹 GameStop news creates noise, but the technical structure suggests a potential bottoming process at support.
Buy in the $87,500 – $88,000 range.
$94,000 Reclaims the EMA lines.
Cut Losses Below $85,500.
GameStop may be cutting losses, but the technicals indicate support for the Bear Flag pattern. Will you go against the company's fears to catch the bottom around $87.5k?
News and research information from Trading Insight is for reference only, not investment advice. Please read carefully before making decisions.
