#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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The current encryption market environment does not seem to have the conditions for a sustained rebound, as can be seen from the latest trends of mainstream encryption assets.
Shiba Inu Coin ( SHIB ) is currently facing extremely unfavorable technical trends. After experiencing consecutive declines, this encryption asset is on the edge of danger, with its key support level around $0.00001159 being precarious. If this area is breached, SHIB is likely to fall into a price range not reached since the beginning of 2023, which may trigger a larger scale price adjustment. It is worth noting that the current changes in trading volume further exacerbate the situation.
In recent weeks, the trading activity of SHIB has continued to shrink, reflecting a significant cooling of enthusiasm for the asset among both large institutions and individual investors, which is concerning. The price decline accompanied by a decrease in trading volume is usually interpreted as a signal of loss of confidence or a collective exit by market participants, rather than a healthy price adjustment or accumulation of chips.
From a technical indicator perspective, the 50-day, 100-day, and 200-day moving averages form a strong resistance area, and the current trading price of SHIB is well below these key moving averages. The technical analysis does not show any obvious reversal signals, and the downward trend of these moving averages further reinforces the current bearish pattern.
The Relative Strength Index ( RSI ) also confirms this severe situation. This indicator shows that SHIB has difficulty attracting short-term speculative funds even while hovering in the oversold zone, and there has been no significant technical rebound. Unless SHIB can quickly break through the 0.00001200 USD level and regain the 50-day moving average, the risk of further decline remains. In the absence of substantial positive factors to stimulate it, the market outlook for this encryption asset is temporarily not optimistic, and the technical situation continues to deteriorate.