BTC Analysis
On-chain and technical analyses indicate that the level around 99,000 USD is an important support threshold for Bitcoin. For example, Glassnode suggests that this is a strong support level because about 75% of the cost basis of long-term holders falls close to it.
The market shows signs of "consolidating" prices in the range of approximately 99,000-104,000 USD: that is, the price is neither bouncing up strongly nor dropping drastically immediately — indicating the possibility of "accumulation" or waiting for a turning point.
If BTC can hold around and above this support area, there is a possibility that a rebound will form — some analyses suggest that holding above ~101,500 USD could aim for the threshold of 103,500–106,000 USD. #MarketPullback
