As of now, Bitcoin's price has fluctuated around $114,000, which is 5% lower than the levels of the previous week. The analysis reveals key support levels and shifts in buyer activity.
Price Dynamics of Bitcoin
Bitcoin is trading below the $114,000 mark, losing 5% over the past week after hitting a peak of $117,000. Currently, market consolidation is observed.
Technical Indicators and Trend Shift Signals
Crypto analyst Ali Martinez noted significant support levels based on the MVRV model. The next key support levels are $112,800, $91,400, and $70,000. Historically, these levels have been zones of strong demand during corrections.
Buyer Activity and Bitcoin Accumulation
According to data collected by *CryptoPotato*, over the past five days, new investors have added about 50,000 BTC, increasing their holdings from 4.88 million to 4.93 million BTC. This indicates some interest in the market despite price declines.
Despite short-term losses, Bitcoin accumulation at support levels may signify stability for holders. Key levels to watch remain at $112,000, $91,400, and $70,000.
