Capital flows into bitcoin remain firm and strong.
There are no signs of massive profit taking, according to the SOPR indicator.
Despite the volatility generated by macroeconomic factors last Friday, the bitcoin (BTC) market structure continues to show signs of strength.
According to the analyst and professional trader, Willy Woo, the digital currency resisted the general decline in the markets thanks to a solid domestic demand that remains firm.
In a series of posts on the social network X, Woo explained that the sharp sell-off in the market, driven by fears of an escalation in the trade war between the United States and China, failed to break the trend of the main digital asset.
“Internally, BTC was building a bullish structure with increasing inflows that likely protected it,” Woo stated.
The analyst notes that while it could take between 24 and 48 hours to confirm a local ground, bitcoin demand has remained constant since the fall of Friday.
For Woo, a key indicator is that investors don’t seem to be taking profitsa behavior that is reflected in the on-chain metric SOPR (Spent Output Profit Ratio), which has not shown a decline.
Woo concludes that “the macrostructure (bullish with some cracks forming) remains intact.” However, he recommends watching to see if this support deteriorates in the coming days, as traditional markets try to recover from a decline that, according to his perspective, could take weeks to regroup.
At the time of this publication, as seen in the CriptoNoticias Price Calculator, the price of bitcoin is $111,700.