The post Bitcoin Price Must Hold Above $97K To Sustain Momentum – Metrics appeared on BitcoinEthereumNews.com.

Bitcoin has been trading sideways since mid-January, moving within a tight range between its all-time high and the $97,750 support level. The market remains divided, with bulls expecting a breakout into price discovery and bears speculating that the cycle top is already in. Despite this uncertainty, Bitcoin continues to hold above critical levels, keeping investors on edge about the next major move. Related Reading Top analyst Ali Martinez shared key insights on X, revealing that $97,190 is one of the most important support levels for Bitcoin at the moment. Martinez emphasizes that holding above this level is crucial to sustaining the bull market and determining BTC’s price direction for the coming weeks. If Bitcoin maintains strength above this zone, it could provide the foundation for another rally toward the $110K mark and beyond. However, losing this level could result in a deeper correction, shaking market confidence. With macroeconomic conditions still playing a key role in market sentiment, traders closely watch how BTC reacts to this critical support. Whether Bitcoin can hold firm or break lower will likely define its short-term trajectory, shaping expectations for the rest of the bullish cycle. Bitcoin Facing A Crucial Test Bitcoin is at a crucial moment in its cycle, as the coming weeks will determine whether BTC can break above all-time highs and enter price discovery or if a longer consolidation—or even a correction—into lower demand levels is ahead. After weeks of sideways trading, Bitcoin remains at a crossroads, with bulls and bears battling for control of the next major move. Key metrics shared by Martinez reveal that $97,190 is one of the most important support levels for Bitcoin at the moment. This level is a crucial structural point that has provided strong demand during recent corrections.  Bitcoin In/Out of the Money Around Price |…

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Filed under: News - @ February 2, 2025 9:23 am