Уникальная дивергенция на рынке биткоина предвещает возможный разворот Translation: Unique Divergence in Bitcoin Market Signals Potential Trend Reversal

Short-term Bitcoin investors have created a rare signal that has previously indicated a local market bottom. This was reported by Frank Fetter, an analyst at Vibes Capital Management.

The buying price of coins held by short-term holders has aligned with the current market value of the leading cryptocurrency. This level often serves as support during corrections in a bullish market, but losing it could lead to a prolonged decline.

The MVRV indicator for this group of holders has reached the breakeven point. Deviations from the lower Bollinger Band occur very infrequently. Over the past year, this has only happened twice:

Currently, a bullish divergence is forming on the four-hour RSI indicator for the BTC/USD chart. According to Fetter, this indicates an impending trend reversal.

On September 2, Bitcoin’s price briefly recovered to $110,000 after falling to $107,000 at the end of August. However, analysts from Glassnode noted a decrease in investor interest. They stated that the market structure remains unstable.

Last week, demand in the spot market for digital gold was weak. Trading volume dropped by 9% — from $8.5 billion to $7.7 billion. Experts emphasized that investors and traders are losing confidence in Bitcoin’s recovery.

The CVD indicator has slightly increased, suggesting a reduction in sales. Nevertheless, «spot metrics indicate fragile demand,» Glassnode added.

The situation in the futures market also reflects players’ caution. Open interest declined from $45.8 billion to $45 billion, while funding volume fell from $3.8 billion to $2.8 billion.

The key resistance level has become $110,500 — the upper boundary of the descending channel. Closing above this level could open the path to the liquidity zone between $110,000 and $117,000.

Experts have identified immediate support levels at $108,000 and $107,300.

Michael van de Poppe, the founder of MN Capital, believes that in order for Bitcoin to reach a new historical high, it must secure a position above $112,000. Otherwise, the cryptocurrency may retrace to $103,000.

The liquidity map shows significant clusters of buy orders in the range of $105,500 to $107,000 and sell orders in the $110,000 to $111,000 zone. Analyst AlphaBTC suggested that the market is «hunting for money» and may initially test the short area before returning to examine the lows.

It’s worth recalling that in early September, the CEO of Bitcoin Magazine accused two whales of «slowing down» Bitcoin.