Эксперты замечают устойчивый спрос на биткоин в условиях неопределенности Translation: Experts note consistent demand for Bitcoin amid uncertainty.

The funding rates for the first cryptocurrency on the largest exchanges remain neutral or negative while trading in the range of $110,000 to $120,000. This indicates a «healthy market dynamic,» stated CryptoQuant analyst PelinayPA.

Unlike typical scenarios where price increases are accompanied by high leverage, the current situation shows a predominance of organic demand and accumulation by long-term investors.

According to the expert, a key advantage of the current structure is the potential for short squeezes, supported by institutional demand.

*“The overall market configuration retains a bullish character: negative funding suggests opportunities for accumulation, while sustained spot buying provides fundamental support for the rally,”* the expert noted.

As for the near price horizon, PelinayPA identified the range of $120,000 to $125,000. However, a drop below $115,000 amid negative funding could lead to a deeper correction.

As analysts from Glassnode indicated, a critical level for Bitcoin has become the entry price for short-term holders, which is positioned above $110,000. They emphasized that since May, this metric has acted as support five times, delineating bullish and bearish scenarios.

In their analysis, experts pointed out that growth is hindered by a dense cluster of sell orders between $114,000 and $118,000. However, at the time of writing, the first cryptocurrency successfully surpassed the upper limit, breaking through $119,000.

*“Overcoming selling pressure is a crucial condition for the market’s next attempt to refresh historical highs. A strong hold above $118,000 will signal that demand is absorbing supply from buyers who entered at peaks, reinforcing arguments for further growth,”* Glassnode noted.

Market sentiment is cooling, the specialists emphasized. They pointed to a decreasing realized price for short-term holders since May. The Fear and Greed Index has transitioned into the «neutral» zone.

Long-term investors have reduced their asset distribution following months of profit-taking, while U.S. exchange-traded funds have resumed net inflows. This balance simultaneously creates conditions for potential consolidation.

In the options market, after a record expiration, open interest is being restructured considering seasonal factors—the expected Uptober. Traders are actively buying calls in the range of $136,000 to $145,000 while simultaneously selling puts. Experts believe this reflects cautious optimism about the prospects for the fourth quarter.

It’s worth recalling that CryptoQuant analysts identified conditions for Bitcoin to rise to $200,000. Support for the first cryptocurrency is provided by three key factors: sustained demand, increasing liquidity of stablecoins, and a decrease in unrealized profits for traders.