Bitcoin shows stability near all-time highs, forming a key supply cluster between $95.5k and $97k. This may become a decisive moment for market movement.
Bitcoin Supply Cluster Near $98k
Bitcoin's price is stabilizing near historic highs, with a crucial supply cluster forming between $95.5k and $97k, just below the short-term holder cost basis at $98k. This level may be critical for determining the next market move.
Strategic Buying and Supply Zones
A clear concentration of Bitcoin supply is observed between $95.5k and $97k, indicating strong investor confidence. This cluster sits just beneath the short-term price threshold and, if price holds above it, could reinforce bullish momentum. Since early July 2023, a shift in supply from $30k to $110k illustrates strategic buying in the market.
Market Structure and Long Positions
The Bitcoin UTXO Realized Price Distribution chart shows a stable market structure with a supply cluster identified between $76k and $88k. This structure creates strong psychological and technical levels for traders. Currently, over 800,000 BTC are held above $100k, reflecting high confidence among holders in further price growth. These zones may act as support during future corrections.
The current state of the Bitcoin market indicates strong positions among investors, as evidenced by the formation of a solid supply cluster between $95.5k and $97k. Maintaining these levels suggests potential for further growth, although a bearish correction remains a possibility.
