The price of Bitcoin still seems to be struggling below key levels. So far, assets are still trading below USD 82,000, which means a tiny boost by 0.3% on the last day, and about 24.3% decreases from the highest level (ATH) above USD 109,000 registered in January.
Among these price results there are key price levels, especially those that affect short-term owners (STHS)-the investors who had Bitcoin for less than six months.
Compact -term holder of the Price implemented: Key market indicator
Kryptochan Yonsei Dent analyst identified Critical retaining zone from 86 thousand USD up to USD 90,000, where many STH remains in the position of losses. Bitcoin ability to overcome these levels will determine whether it can regain the momentum or continue the downward trend.
Yonsei Dent emphasizes the importance of the completed price, which represents the average cost of the acquisition of bitcoin owners. This record helps to identify the support and resistance zones, showing at what level prices investors will probably break or sell with a loss.
Currently, Bitcoin is trying to regain USD 83,000, because the weighted average price for 1W -6 million STHS is USD 91,800. This means that many recent buyers still keep a loss, causing sales pressure when they try to get out of the threshold threshold.
In addition, the price of 3-6 million STH is 86.100 USD, which makes it the main retaining zone. Because this group has the largest share in the realized CAP among miniature -term owners, their commercial activities can significantly affect Bitcoin prices.
What does this mean for Bitcoin’s price
When Bitcoin trads between USD 86,000 and USD 90,000, miniature -term sales owners at speed speed can lead to increased market variability. If Bitcoin is unable to break this resistance, he can face the renewed pressure down.
On the other hand, the long -term owner of Bitcoin (LTH) Bitcoin completed the price is USD 63,700, with USD 64,000 is a mighty historical level of support. Yonsei Dent notes that if the purchase of demand is mighty enough to absorb the pressure for sale, Bitcoin can break free from this range and be a more stubborn trend.
However, if sales from miniature -term owners intensify, Bitcoin may again check lower support levels before making significant recovery. The analyst noticed:
When Bitcoin moves in the range of 86 thousand. USD → 90,000 USD, STHS, who want to get out of the threshold speed, can boost market turbulence. The key question is whether the demand for purchase will be mighty enough to absorb this pressure. Let’s see how the market reacts.
A distinguished picture created from DALL-E, chart from TradingView
