"The Possibility of Short-term Market Adjustment Has Increased... Market Orders Significantly Decreased"

An analysis has emerged suggesting that the possibility of a short-term adjustment in the virtual asset (cryptocurrency) market has increased.

On the 26th (local time), a Crazzyblockk Santiment analyst reported, "On-chain indicators suggesting the possibility of a short-term adjustment in the virtual asset market are emerging," and added, "The taker buy and sell volumes on centralized exchanges (CEX) have both significantly decreased." He continued, "This indicates a decrease in the market order ratio on both the buy and sell sides, suggesting a weakening of the market's short-term momentum."

Additionally, the decline in the taker buy-sell ratio was highlighted. He analyzed, "The taker buy-sell ratio has fallen by about 35% over the past 7 days, with the 7-day moving average reaching 1.2," and added, "At the same time, the 7-day price volatility indicator has surged, implying a significant change is approaching the market."

Furthermore, he predicted that Bitcoin (BTC) could reach $105,000. The analyst stated, "Due to the increase in selling pressure and volatility, the possibility of a short-term adjustment has become very high," and added, "Bitcoin is also likely to retest the $105,000 support level."

As of 6 PM, Bitcoin is trading at $109,659 on the Binance USDT market, up 2.38% from 24 hours ago.