| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $106519.5300000000 |
| ETH | $2458.9830000000 |
| BNB | $652.9107400000 |
| XRP | $2.2044370000 |
| ADA | $0.5629689000 |
| SOL | $149.0210000000 |
| DOGE | $N/A |
| DOT | $3.3496800000 |
| LTC | $85.8064000000 |
| LINK | $13.2216100000 |
Category: CRYPTO NEWS
The post Bitcoin’s Key Support Level: $96,475 to $99,574 appeared on BitcoinEthereumNews.com. Bitcoin’s price stability hinges on a crucial support zone between $96,475 and $99,574, according to on-chain data. This range represents a significant area of interest for the cryptocurrency, as 1.87 million addresses collectively acquired 1.79 million BTC within this price bracket. The activity highlights the psychological and technical importance of this support level in determining Bitcoin’s short-term and long-term trajectory. According to Crypto analyst Ali Martinez,On-chain metrics reveal that the $96,475 to $99,574 range is one of Bitcoin’s most substantial areas of accumulation. The large number of addresses that acquired BTC within this range suggests it is a critical price level where traders and investors have shown high confidence in Bitcoin’s value. The current price of Bitcoin, hovering around $102,834, remains above this support zone, reinforcing its importance as a safety net against downward market pressure. Historically, such dense clusters of activity serve as robust support levels, often halting price declines and fueling potential rebounds during periods of market volatility. The concentration of 1.79 million BTC at this support level underscores the immense buying interest within this range. Should Bitcoin’s price approach or dip into this zone, the significant demand from these addresses could provide a buffer against further declines. This level acts as a psychological floor for both retail and institutional investors, offering a critical reference point for market sentiment. Additionally, if Bitcoin continues to trade above this range, it may instill greater confidence among market participants, potentially attracting new buyers and further solidifying this level as a foundation for future price gains. Key Support Level in Market Context The identified support range coincides with Bitcoin’s ongoing recovery in 2025, driven by increased adoption, macroeconomic factors, and renewed institutional interest in the asset. Recent data shows that Bitcoin’s price action is becoming more sensitive to key support and resistance…
2025-01-19T03:42:17+00:00