Bitcoin continues to experience volatility in the market after sharply falling below $110,000, attracting the attention of analysts and investors.
Key Support Zones at Risk
Analyst Axel Adler Jr. noted that the market is currently testing a vital defensive zone located in the $100,000–$107,000 range. He pointed out that this area is critical as it marks the intersection of two significant metrics for establishing market floors: the Short-Term Holder Realized Price and the 200-day Simple Moving Average.
Market Structure and Key Levels
A secondary support level highlighted by Adler lies around the $92,000–$93,000 mark, representing the cost basis for investors who have held assets for three to six months. Should the first zone be breached, this would become the final defensive line.
Long-Term Perspective on Bitcoin
At the moment, Bitcoin is trading around $110,317, which is more than 11% lower than its all-time high above $124,000 on August 14. However, over the past 30 days, the asset has gained 6.5% and remains 73.2% above its price from a year ago, suggesting that the current pullback may still be within the healthy boundaries of a larger bullish trend.
Under the pressure of short-term fluctuations, Bitcoin continues to linger within a long-term ascending trend. Key support levels are crucial for its future price movements.
