Bitcoin and Ethereum continue to lose ground as the prospects of tighter monetary policy from several central banks grow exponentially. Trading for BTC is currently around $76,700, while Ethereum has returned to $2,100.

As the cryptocurrency market remains under significant pressure, long-term holders are demonstrating confidence in Bitcoin's future by steadily accumulating coins. Data from CryptoQuant shows impressive activity: approximately 316,000 BTC were directed to their wallets over the past month. This trend indicates that large players with a long-term investment horizon see the current prices as an attractive opportunity to increase their positions. Such a strategy often precedes periods of sustained growth, as it reduces selling pressure on the market.

Other indicators confirm this trend, showing a gradual depletion of supply from sellers. Data indicates that nearly 60% of the circulating supply of BTC has been inactive for more than a year. This means that a significant portion of the coins is held by investors who are not inclined to sell quickly, even with short-term price fluctuations. Additionally, the ongoing decline in balances on cryptocurrency exchanges indirectly indicates that coins are being moved off trading platforms, likely for long-term storage.

The overall picture suggests that the Bitcoin market is approaching a phase in which supply shortages from active purchases by long-term holders and low seller activity could lead to a substantial price increase. However, in the current bear market, rushing into long positions is not advisable.

Regarding the intraday strategy in the cryptocurrency market, I will continue to focus on any significant pullbacks in Bitcoin and Ethereum in anticipation of the long-term bullish market, which is still very much alive.

As for short-term trading, the strategy and conditions are described below.

Bitcoin

Buying Scenario

Scenario #1: I plan to buy Bitcoin today upon reaching the entry point around $77,100, with a target for growth to $77,900. At $77,900, I will exit the buy trades and sell back immediately on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: I can buy Bitcoin from the lower boundary at $76,500 in the absence of any market reaction to its breakout back toward the levels of $77,100 and $77,900.

Selling Scenario

#1: I plan to sell Bitcoin today upon reaching the entry point around $76,500, with a target to decline to $75,400. At $75,400, I will exit the sell trades and buy back immediately on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the zone below zero.

Scenario #2: I can sell Bitcoin from the upper boundary at $77,100 in the absence of any market reaction to its breakout back toward the levels of $76,500 and $75,400.

Ethereum

Buying Scenario

#1: I plan to buy Ethereum today upon reaching the entry point around $2,124, with a target for growth to $2,155. At $2,155, I will exit the buy trades and sell back immediately on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: I can buy Ethereum at the lower boundary at $2,104 in the absence of any market reaction to its breakout back toward $2,124 and $2,155.

Selling Scenario

Scenario #1: I plan to sell Ethereum today upon reaching the entry point around $2,104 with a target for a decline to the level of $2,065. At $2,065, I will exit the sell trades and buy back immediately on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the zone below zero.

Scenario #2: I can sell Ethereum from the upper boundary at $2,124 in the absence of any market reaction to its breakout back toward the levels of $2,104 and $2,065.