CryptoQuant analyst Axel Adler Jr. has identified a new support level for Bitcoin located between $100,000 and $107,000. This information is based on the intersection of key technical indicators.
Key Support Level
The analysis shows that the range between $100,000 and $107,000 serves as a significant support level for Bitcoin. This level corresponds to the Short-Term Holder Realized Price and the 200-day Simple Moving Average. Such a support level may help stabilize Bitcoin's price amid market fluctuations.
Institutional Purchases
During a recent pullback, institutional investors purchased 200 BTC, amounting to approximately $23 million. The range of $100,000 to $107,000 signals significant interest from major investors, which could play an important role in maintaining price stability.
Future Predictions
Despite the positive long-term sentiment towards Bitcoin, macroeconomic factors such as Federal Reserve policies may influence future trends. Analysts recommend that investors watch these levels closely as they can indicate important decision points amid market uncertainty.
Thus, the Bitcoin support level in the range of $100,000 to $107,000 becomes a key element in price forecasts and institutional investment strategies. This range has the potential to stabilize prices in a changing market landscape.
