Double Warning for Bitcoin (BTC): Analyst Reveals Critical Level That Could Accelerate the Decline, Giant Whale Bets Against This Price Level for September! Here…

The leading cryptocurrency, Bitcoin, has been trading in a narrow range recently. While $BTC continues to hold the $60,000 level, on-chain data analyst Axel Adler stated that if Bitcoin falls below $61,500, selling pressure in the market could intensify further.

Accordingly, Axel Adler examined the $BTC UTXO stress indicator in his latest blog post.

The analysis indicated that Bitcoin has re-entered a high-stress zone as the $BTC UTXO indicator rose above the critical threshold of 70 to 71.58.

According to the analyst, this indicates that a significant portion of the circulating Bitcoin supply is in loss territory, and pressure on investors is increasing again.

The analyst noted that approximately a year ago, the same indicator was at 41, and the market exhibited a more neutral outlook.

Adler stated that stress had gradually decreased over the past month, but the weekly momentum turning positive at +3 indicates that stress and selling pressure are starting to increase again.

Adler stated that if the indicator falls below 70 and momentum remains negative, stress and selling pressure will decrease. However, conversely, if $BTC falls below its monthly low of around $61,500 and the indicator rises above 90, selling pressure on $BTC could increase further, leading to further declines.

In context, Adler argues that the short-term outlook for Bitcoin largely depends on whether the price can hold critical support levels and on changes in on-chain data, while an options whale believes Bitcoin will not surpass $70,000 before September 25th.

Giant Whale Sets a $70,000 Limit for Bitcoin!

An anonymous, large-scale options investor sold $173 million worth of Bitcoin call option contracts, betting that Bitcoin would not rise above $70,000 before September 25th.

If Bitcoin fails to surpass the $70,000 strike price at expiry, the investor will retain their $3.03 million option premium. However, if Bitcoin rises above $70,000, the position will start to incur a loss.

*This is not investment advice.