On March 12th, as the cryptocurrency market enters a critical decision-making period, underlying data from core exchanges is becoming a key indicator for forecasting trends. EasyMarkets suggests that recent capital flows and derivatives positioning on the Binance platform are showing subtle structural shifts. A weakening desire to sell among whale accounts, combined with a continued reduction in spot supply, is creating a tense consolidation zone. As market筹码 move from exchanges to cold wallets, this marginal improvement in supply-demand dynamics is building energy for Bitcoin to challenge higher technical resistance levels.
The ebb and flow of on-chain metrics clearly depict the defensive positioning of large investors. Data monitored from Binance indicates that the Whale Exchange Ratio, which reflects the inflow proportion of the top ten addresses, has retreated from its February high and stabilized around 0.45. This suggests that the dominant selling pressure in the market has significantly eased. EasyMarkets notes that although the price has been range-bound between $65,000 and $72,000, the Cumulative Volume Delta (CVD) indicator shows large traders are quietly absorbing supply. Market speculation is pre-positioning for volatility through high-leverage strategies.
Profit recovery among short-term holders is providing necessary psychological support for the price, but significant technical overhead resistance remains. EasyMarkets believes that with the Short-Term Holder Spent Output Profit Ratio (SOPR) climbing back above the zero line, the market has demonstrated resilience in absorbing selling pressure from new entrants. If Bitcoin can firmly hold above the $70,000 level in the coming days and convert it into strong support, a sharp repricing of global assets may occur. Related research institutions indicate that $72,000 is the current critical battleground between bullish and bearish forces. EasyMarkets concludes that if this resistance zone is not effectively breached in the short term, investors should be wary of the risk of a bull trap reminiscent of historical patterns.
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