Bitcoin Market Analysis: Corrections, Key Levels, and Long-Term Trends
Following Bitcoin’s surge to its $108K all-time high, the market is undergoing a correction, shedding speculative froth while maintaining robust demand.
Unrealized losses are primarily concentrated among short-term holders, yet the stress levels in this group remain modest compared to prior market drawdowns.
Key Support and Resistance Levels ValidatedRecent price movements have validated two critical levels highlighted by on-chain data:
– Support at $89K, which aligns with the Short-Term Holder Realized Price of $88.5K.
– Resistance below $98K, a major accumulation zone where approximately 102,000 BTC have been acquired.
Over the past few days, #Bitcoin price action validated two key levels flagged by on-chain data: