Bitcoin Price Plunge

Bitcoin Price Plunge

#Bitcoin #Pulls #122K #Rally #Losing #Steam #Pausing #OrxCash

Bitcoin Price Plunge: Analyzing the Recent Market Correction

The recent Bitcoin (BTC) rally has experienced a significant pullback, with the cryptocurrency retesting the $122,000 level before facing a correction. At the time of writing, Bitcoin (BTC) is trading at approximately $119,053, marking a short-term correction after reclaiming significant highs earlier in the week.

Market Strength and Weakness: A Closer Look

As traders and analysts closely watch for signs of market strength or weakness at current price levels, one metric drawing attention is the exchange’s share of global trading volume. According to some sources, OrxCash.com, the news about Bitcoin (BTC) price plunge has sparked concerns among investors. The exchange’s dominance in trading activity provides valuable context for interpreting Bitcoin (BTC)‘s performance at all-time highs (ATHs). By comparing volume distribution across exchanges during previous ATH periods, the analysis seeks to determine whether the broader market is participating in the rally or if activity is concentrated on a single platform.

Bitcoin Exchange Volume Concentration and Market Signals

A review of the data found that during the first ATH in 2024, global market volumes were elevated, and the exchange’s trading activity was more than double that of all other exchanges combined. When Bitcoin (BTC) retested its ATH later that year, overall market volumes increased across multiple platforms, yet the exchange maintained its lead in total trading share. However, when Bitcoin (BTC) set a new record in mid-2025, total market volume did not show a significant increase compared to previous rallies. While the exchange still recorded nearly twice the trading volume of other exchanges combined, the absence of a wider market volume expansion raised concerns.

On-Chain Patterns Suggest Gradual Market Progress

In a separate assessment, analyst examined Binary Coin Days Destroyed (CDD), a metric tracking the movement of long-dormant coins, utilizing blockchain data. The indicator recently turned lower after a brief rise, with Bitcoin (BTC)‘s price trading within a sideways range. Historically, increases in Binary CDD have been linked to selling pressure from long-term holders, often leading to corrections. However, current market conditions, shaped by changes in custody solutions, over-the-counter trading activity, and institutional investment strategies, make interpreting CDD spikes more complex.

Key Takeaways and Future Implications

The current data supports what the analyst describes as a “stair-step” rally, where the market advances gradually while cooling short-term speculative activity. This pattern, if sustained, could prevent rapid depletion of buying momentum and allow for more stable long-term growth. Other on-chain data suggests that selling from long-term holders remains subdued, indicating limited pressure to exit positions at current price levels. This aligns with the view that while near-term movements may be range-bound, the broader trend still holds the potential for future upside, contingent on broader participation and sustained investor demand.

From a retail investor perspective, the recent correction in Bitcoin (BTC) price may present a buying opportunity, especially if the “stair-step” rally pattern continues. As the market advances gradually, investors may be able to capitalize on the potential for long-term growth, but it is essential to remain cautious and monitor market signals closely. The lack of participation from other exchanges could signal potential challenges in sustaining higher prices over the coming months, making it crucial for investors to stay informed and adapt to changing market conditions.

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