Analysis: Investors are "buying the dip" in Bitcoin around $110,000

ChainCatcher news, according to Cointelegraph, Bitcoin continued to pressure key support levels on Thursday, while signs of renewed buyer interest emerged. Investors are "buying the dip" around $110,000 for Bitcoin. BTC fell below $110,000, and the liquidity of orders on both sides of the trading platforms has become the focus, with the local low and the resistance level at $112,300 being key points.

Trader and analyst Rekt Capital pointed out that BTC has now filled the "gap" in the CME Bitcoin futures market. When discussing the Relative Strength Index (RSI), Rekt Capital noted the bullish divergence in price, which may indicate a potential upward trend in the future. Crypto analyst Ted Pillows believes that Bitcoin's price may be establishing a local support bottom based on market sentiment.

On-chain analysis platform Glassnode stated that entities holding 1 to 1,000 BTC are showing "strong accumulation" signals. Even the whales that have distributed a large amount of Bitcoin to the market in recent weeks are slowing down their selling pace. Glassnode indicated that this "shows that despite recent turmoil, market confidence is recovering."