The post Bitcoin Approaches Critical Support at $97,190 as Reactivated Coins Signal Potential Market Changes appeared on BitcoinEthereumNews.com.

Bitcoin’s price is currently at a critical juncture, with a strong focus on the $97,190 support level that could dictate its future trajectory. As dormant Bitcoin addresses reawaken, the market watches closely for implications about the momentum of the ongoing bull run. “If previously inactive BTC holders begin selling in large volumes, this could introduce short-term downward pressure,” emphasizes crypto analyst Ali Martinez. This article examines Bitcoin’s crucial price levels and the implications of reactivated dormant coins for its price future. Stay informed about the latest trends! Bitcoin’s Bull Market at a Critical Juncture Bitcoin’s [BTC] current bull market is showing signs of both strength and critical turning points, with the support level at $97,190 becoming increasingly significant. The market is seeing a surge in activity as once-dormant wallets spring back to life, which historically denotes a pivotal moment in the cryptocurrency’s journey. As these “lost” coins reenter circulation, the implications for price movements could be profound. The Return of Dormant Coins: Implications for the Market The reactivation of Bitcoin that has been dormant for years signals that long-term holders may be readjusting their strategies. This situation raises the possibility of profit-taking, which might lead to market volatility. Historically, periods of heightened activity among dormant wallets precede significant price movements, indicating a potential shift toward the final stages of the bull run if selling pressure emerges. As analysts closely monitor these trends, a careful watch on price movements will be vital for traders and investors alike. Key Support Level: $97,190 In the analysis provided by crypto experts, the support level at $97,190 is highlighted as a crucial threshold for Bitcoin’s price sustainability. On-chain analysis has identified approximately 1.45 million addresses that purchased Bitcoin within the $95,772 to $98,719 range. This concentration of holdings suggests that if Bitcoin can maintain its…

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Filed under: News - @ February 2, 2025 11:15 am