\n\t\t\t\tEste art\u00edculo tambi\u00e9n est\u00e1 disponible en espa\u00f1ol.
\n\t\t\t<\/a>\n\t\t<\/div>\n
Bitcoin is now retesting the psychological $100,000 price level again after a 2.22% decline in the past 24 hours. Notably, Bitcoin recently rebounded around an order block at $99,200 in the past 24 hours as it continues to trade with intense volatility.\u00a0<\/span><\/p>\n Meanwhile, crypto analyst Ali Martinez has pointed to $97,190 as a key support level, stressing that Bitcoin must stay above it to maintain its bullish trajectory. This insight comes amidst sharp price swings <\/span>that have tested investor sentiment<\/span><\/a>, but optimism remains strong as data indicates many traders continue to bet on Bitcoin\u2019s upward trajectory.<\/span><\/p>\n As<\/span> Martinez noted, <\/span><\/a>$97,190 is one of the most critical support levels for Bitcoin, and holding above it is <\/span>crucial to sustaining<\/span><\/a> the bull market. This insight is backed by data from on-chain analytics platform IntoTheBlock. Particularly, the data is revealed through the In\/Out Of Money Around Price metric from IntoTheBlock, which tracks the number of addresses making or losing money at the current price of a crypto asset.\u00a0<\/span><\/p>\n In the case of Bitcoin, about 73% of addresses that bought Bitcoin at the current trading range are in profit. A significant portion of these, approximately 1.45 million addresses, bought Bitcoin between $95,727 and $98,719 at an average price of $97,190. These addresses collectively hold about 1.36 million BTC around this level, making it one of the most densely concentrated areas of holdings in the current cycle.<\/span><\/p>\n Given this concentration of holdings, Bitcoin <\/span>must maintain its position<\/span><\/a> above $97,190 to preserve its bullish momentum and keep sentiment positive among traders. A break below this level could push many of these holders toward break-even, increasing the<\/span> likelihood of panic selling.<\/span><\/a> This could, in turn, trigger further downside pressure and create a cascading effect on the Bitcoin price.<\/span><\/p>\n<\/p>\n Image<\/span> From X<\/span><\/a>: Ali_charts<\/span><\/p>\n Despite concerns surrounding Bitcoin\u2019s ability to maintain its support, market sentiment among traders remains largely optimistic. Notably, <\/span>open positions<\/span><\/a> on Binance, the world\u2019s largest crypto exchange, show that a significant majority of traders continue to bet on further upside. <\/span><\/p>\n According to data from Coinglass, 60.94% of traders on Binance, the largest crypto exchange, with open Bitcoin futures positions are betting on the upside.<\/span><\/p>\n Further reinforcing the bullish outlook, Martinez also pointed to a buy signal from<\/span> the TD Sequential indicator,<\/span><\/a> which has appeared on Bitcoin\u2019s four-hour chart. This technical tool has been instrumental in identifying trend reversals throughout this cycle, often preceding notable price recoveries. <\/span><\/p>\n If the <\/span>pattern holds true again<\/span><\/a>, Bitcoin could experience renewed buying <\/span>pressure in the coming days<\/span><\/a>, potentially setting the stage for a retest of the $106,000 level.<\/span><\/p>\n At the time of writing, Bitcoin is trading at $99,403, down by 2.35% in the past 24 hours.<\/span><\/p>\n Featured image from Neon Dreams, chart from TradingView<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Este art\u00edculo tambi\u00e9n est\u00e1 disponible en espa\u00f1ol. Bitcoin is now retesting the psychological $100,000 price level again after a 2.22% decline in the past 24 hours. Notably, Bitcoin recently rebounded around an order block at $99,200 in the past 24 hours as it continues to trade with intense volatility.\u00a0 Meanwhile, crypto analyst Ali Martinez has […]<\/p>\n","protected":false},"author":2,"featured_media":364986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-364982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=364982"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364982\/revisions"}],"predecessor-version":[{"id":364988,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364982\/revisions\/364988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/364986"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=364982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=364982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=364982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin\u2019s Key Support Level Identified At $97,190<\/b><\/h2>\n
Related Reading<\/span><\/h2>\n<\/p>\n
Binance Futures Data Shows Strong Bullish Sentiment<\/b><\/h2>\n
Related Reading<\/span><\/h2>\n<\/p>\n