Key Metrics Reveal Bitcoin STH Support Levels Around $89K–$86K – Is BTC At Risk?
The post Key Metrics Reveal Bitcoin STH Support Levels Around $89K–$86K – Is BTC At Risk? appeared on BitcoinEthereumNews.com.
Este artículo también está disponible en español. Bitcoin has faced intense selling pressure since Tuesday, following a strong breakout above the $100K mark. The rally, which many investors hoped would solidify Bitcoin’s bullish structure, quickly reversed, driving the price down to a low of $92,500. The sudden downturn has rattled market sentiment, leaving investors cautious about the immediate direction of the crypto market leader. Related Reading Top analyst Axel Adler has shared crucial data on X, highlighting Bitcoin’s nearest support levels. According to Adler, the key levels to watch are between $86.8K and $89.7K, representing the short-term holders’ realized price. These metrics suggest that Bitcoin is approaching a significant demand zone, where accumulation might take place if the selling pressure eases. As Bitcoin consolidates near these levels, the market waits for signs of stabilization. Whether Bitcoin can recover from this setback or extend its correction remains uncertain. However, the current support levels could serve as a turning point, offering a foundation for bulls to regain momentum. Bitcoin Consolidates Between Key Levels Bitcoin is navigating a critical consolidation phase, with the price fluctuating between $100K and $92K. While there have been brief deviations above the $100K mark, the market leader has struggled to maintain momentum, raising concerns about a potential drop to lower demand zones. Investors and analysts alike are closely monitoring this range, with expectations of Bitcoin finding stronger footing below the $90K area. Top analyst Axel Adler recently shared insights on X, shedding light on Bitcoin’s nearest support levels. According to Adler, the Short-Term Holders 1M-3M Realized Price is currently $89.7K, while the broader Short-Term Holders Realized Price sits at $86.8K. Bitcoin Support Levels | Source: Axel Adler on X These levels represent key demand zones that could provide Bitcoin with the fuel needed for its next rally. A…
Filed under: News - @ January 10, 2025 2:24 am