Bitcoin's price has been steadily declining over the past week, but the bearish momentum is not as strong as anticipated, and there are multiple support levels available for the market to rely on. Technical analysis shows that the daily chart indicates a potential bullish pullback to the broken moving average, but the price could still drop to the $25K static support level before rising again. The 4-hour chart suggests that BTC may test the $25K zone soon, but a retest of the $27,500 level is possible in the short term due to a clear bullish divergence. However, the Bitcoin network's increasing activity and popularity of BRC-20 tokens have resulted in higher transaction fees, affecting all participants and requiring additional caution in BTC trading.

Bitcoin attempted to break the $27,000 mark but failed due to low trading volumes over the weekend. Altcoins such as ETH and BNB have also remained relatively stable with no significant price movements.

139 Bitcoin purchased in 2011 for a little over $2,250, has been moved to a new Segwit address, now worth $3.5 million. The coins belong to the "Ancient Supply" category, which refers to Bitcoin purchased at least 7 years ago. This year, 3,200 BTC from Ancient Supply has been revived, with 1,100 dating back to before 2013.

May 14 (Cointime) - Glassnode data shows that there are now more than 1 million Bitcoin addresses holding at least 1 BTC. At the end of February last year, when Bitcoin halved from its all-time high, the number of addresses holding 1 Bitcoin increased significantly.

Bitcoin remains the leading cryptocurrency in the world of crypto mining, but concerns have been raised about the sustainability of its Proof-of-Work (PoW) consensus algorithm. Critics argue that the energy consumption and environmental impact associated with PoW mining are unsustainable, and that the concentration of mining power could compromise the decentralized nature of the network. While Ethereum has transitioned to Proof-of-Stake (PoS), Bitcoin is unlikely to follow suit due to its commitment to decentralization and security. However, layer-2 solutions such as the Lightning Network can be employed for scalability. Efforts are being made to address Bitcoin's environmental impact, and the upcoming halving event in 2024 could incentivize miners to seek cost-effective and sustainable solutions.

Bitcoin's price analysis reveals that it has bounced off the key support level of $25,500 and broken past the $26,500 resistance, reaching an intraday high of $26,989.07. Investors anticipate a rally to $27,000-$28,000 in the next few days, with a break past these levels leading to higher highs. The daily chart shows that BTC/USD is still in an uptrend, with support at the $25,500 and $26,000 levels. Bulls must defend these levels to maintain the uptrend and prevent deeper price corrections. Technical indicators on the daily chart are currently bearish, with the Relative Strength Index at 37.87 and MACD bearish. The 4-hour chart shows a bullish crossover underway between the 9-day and 21-day exponential moving averages, which could signal further upside in the pair if key support levels are defended. Market sentiment is bullish as investors anticipate a break past the $28,000 resistance, but further corrections are likely if the bears push prices lower than the support levels mentioned above.

Bitcoin's price has been on a bullish run, recovering from earlier losses in the week. Despite a general bearish trend, investors are hopeful that current trends will continue. The digital currency market has experienced significant volatility due to conflicting fundamentals, but the recent gains indicate that bulls are still in control. Bitcoin's price increase has led to a jump in the combined crypto market capitalization, which is up 1.92% and valued at $1.12 trillion. However, the market remains volatile, and the actions of major whales and regulatory developments could impact the price either way.

Today marks the 14th anniversary of the first-ever Reddit thread on Bitcoin, which was posted in 2009. The thread linked to Bitcoin's page on SourceForge, and while some Reddit users recognized its potential, others were skeptical due to security concerns and potential government scrutiny. Since its launch, Bitcoin has experienced a wild ride, with its value surging to over $27,000 as of today. However, investing in cryptocurrency is speculative and carries risk.

Bitcoin (BTC) attempted to surpass $27,000 on May 13, following a dip to new two-month lows caused by a "scam wick." Traders are closely monitoring BTC's ability to maintain the $26,500 level, with some suggesting that it is a crucial line in the sand. While some traders believe that BTC's recent daily candle has been positive, others are concerned about a lack of bid liquidity and buying from major whale classes. The 200-week moving average remains a key factor in determining the bullish thesis going forward.

Bitcoin has recently rebounded from the $25,800 support level, with experts now analyzing potential price targets and forecasting its trajectory. While Fidelity Investment's Director highlights Bitcoin's impressive rally, Michael Saylor argues that its importance lies in individual ownership. However, there has been a decline in Bitcoin liquidity on Binance, resulting in a decline of over 6% in the past day, falling below the $27,000 mark. The decrease in coins for public sale could lead to an increase in demand and upward pressure on prices, but technical indicators suggest that bearish sentiment still remains. It is important to monitor the $26,000 level as a critical pivot point for Bitcoin.