Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12837
Markets: 99741
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12837
Cryptocurrencies
60.66%
Bitcoin Share
Bitcoinist 2025-02-16 17:30:48

Bitcoin Price Is Wedged Between 2 Crucial Levels — Time To Buy Or Sell?

Bitcoin Price Is Wedged Between 2 Crucial Levels — Time To Buy Or Sell?

The Bitcoin price has almost struggled to shine lately on weekends, with its performance so far in the current one not much different. While it showed promising bullish signs on Friday evening, the premier cryptocurrency seems to have returned to its dour weekend nature. Thanks to the jump in the late hours of Friday, the price of BTC moved back into a mini-consolidation range between $97,000 and $98,000. Interestingly, the latest on-chain data shows that Bitcoin price is now trapped within a crucial bracket. Why Investors Watch Out For $96,365 And $98,467 In a post on the X platform, prominent crypto analyst Ali Martinez shared an interesting on-chain insight into the Bitcoin price and its future trajectory. According to Martinez, the flagship cryptocurrency is wedged between two key price levels that could determine its trend in the near term. This on-chain analysis is based on the average cost basis of several BTC investors. For context, cost-basis analysis evaluates a level’s capacity to serve as support or resistance depending on the total amount of coins last purchased by investors in the region. As observed in the chart above, the size of the dot (green and red) represents and directly corresponds to the number of bitcoins acquired within a price range. According to data from IntoTheBlock, around 1.97 million addresses bought roughly 1.43 million BTC within the price range of $94,659 and $97,544 (at an average price of $96,365.) This high buying activity has led to the formation of a key support cushion within this price region. The reasoning is that, when Bitcoin price returns to $96,365, investors with their cost basis in and around this level are likely to defend their position by acquiring more coins, allowing the price to stay above the support area. At the same time, the $97,650 and $99,470 region is also filled with investors — about $1.16 million addresses who bought over 1.16 million BTC. This price range could act as a significant supply barrier, as investors in loss may want to quickly offload their assets once the Bitcoin price reaches their cost basis. With prices set between these two levels, the premier cryptocurrency appears to be at a critical juncture that could decide its future over the next few weeks. Martinez noted that “a breakout in either direction could set the trend.” Bitcoin Price At A Glance As of this writing, the price of Bitcoin stands at around $97,700, reflecting no significant movement in the past 24 hours.

Most Read News



Cryptohopper
Market Cap
24h Vol
60.66%
Bitcoin Share
152
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.