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

According to ChainCatcher, citing Cointelegraph, Bitcoin continued to put pressure on key support levels on Thursday, while signs of renewed buying interest emerged. Investors were "buying the dip" around the $110,000 level. As BTC fell below $110,000, liquidity of orders on trading platforms on both sides of the price became a focal point, with the local low and the resistance at $112,300 being key levels to watch.

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 a bullish divergence in price, which could signal a potential upward trend in the future. Crypto analyst Ted Pillows, based on market sentiment, believes that Bitcoin may be establishing a local support bottom.

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