The Bitcoin (BTC) market is still in consolidation after the next trade week without a convincing price breakthrough. When many analysts still speculate about the next resource movement, the outstanding market expert Ali Martinez identified two retaining zones that can be crucial for re -restarting the cryptocurrency.
Bitcoin must exceed USD 85,470 and 92,950 USD – here is why
Over the past month, Bitcoin has fought to maintain lasting growth, and investors’ uncertainty dominates the market. During this period, the leading cryptocurrency met with many rejection, especially at the level of resistance at USD 85,000 and USD 88,000. However, in X Post On Friday, Martinez identified two key resistance zones for the Bitcoin Bull rally using data on an Intotheblock chain. According to cryptographic analyst, the first resistance is USD 85,470, which means the upper limit of the price barrier, which starts from USD 83 023. In particular, 1.13 million portfolio addresses mentioned 607 200 BTC in this price range, which suggests powerful historical activity that supports potential pressure on sale at these levels.
If Bitcoin Bulls can push this initial threshold, the next resistance zone is 92 950 USD – the lower limit of another price ceiling that extends to 95 514 USD. Compared to the initial resistance, this zone recorded a lower participation of investors, from 795 830 energetic portfolio addresses. However, its potential market influence is more significant, because about 627 410 BTC has been traded in this area. If Bitcoin can successfully spotless both retaining zones, Ali Martinez postulates that the prime minister of cryptocurrency can enter the extended strenks and resume the bull rally. However, Bitcoin bulls must avoid a price drop below the key support zone at a price level 80,450 USD. According to the data presented to the chain, the level of 80 450 USD represents the lower limit of the key support zone, which extends to USD 82,907. About 516 770 BTC was carried out in this respect, covering about 738,580 energetic portfolio addresses. These data indicate significant purchasing activities, which can be used as a buffer in the arrival of a decrease in prices.
Bitcoin fees are 57%
In other achievements, the block also Reports Fees for Bitcoin networks have dropped by 57.3% over the past week, which indicates a decrease in user involvement and general investors’ activities. Although the most essential cryptocurrency showed only a miniature price drop by 0.11% during this period. After a recent announcement of novel American tariffs to import, Bitcoin and a wider cryptographic market, they reacted more positively compared to previous messages related to the tariff. Ryan Rasmussen, head of research at BitWise Invest, notes that Bitcoin increased by 2.2% since the announcement on April 2. On the other hand, classic stock markets have recorded significant losses, with “magnificent seven” on average by 12.18%.
