Bitcoin traders set $88K target as market bias finally tilts toward bulls

Bitcoin holding above $72,000, along with a sharp uptick in whale activity, suggests traders may target the supply zone at $88,000.

Bitcoin holding above $72,000, along with a sharp uptick in whale activity, suggests traders may target the supply zone at $88,000.

A rare signal from an ETH price indicator suggests Ether is undervalued, while demand in spot and futures markets hints at a rally to $2,500.

Bitcoin whales sold $271 million in BTC on Sunday, but the steady absorption of supply by traders should help bulls maintain their hold on the market momentum.

Bitcoin buy-side activity across spot and derivatives markets is strengthening, while reduced selling from short-term holders improves the odds of holding $72,000.

The Bitcoin supply held in long-term investor wallets moved above 4 million BTC, while a network activity index flashed a βbull phaseβ signal.

Wintermute analysts said Bitcoinβs price stability against the extreme bearish sentiment present in the market is a positive. Will BTC ever flip $70,000 back to support?