The cryptocurrency market has recently experienced volatility, but Bitcoin has maintained its critical support level, indicating its resilience.
Current State of Bitcoin Market
Bitcoin continues to lead the cryptocurrency market, successfully maintaining critical support at $92,000. This stability fosters confidence among market participants regarding the currency’s robust structure.
Role of New Investors
Glassnode data reveals changes within the Bitcoin market. BTC held for less than three months represents 49.6% of the network’s liquidity, indicating growing interest from new investors stabilizing the market.
Technical Analysis and Prospects
Bitcoin is currently trading at $94,174, above the critical $92,000 support level. To continue the upward trend, it needs to rise above $95,000, signaling positive momentum for the cryptocurrency market.
The market will closely monitor Bitcoin’s movements in the coming days. Critical levels must be defended to maintain the upward trend, otherwise bearish sentiment may return.
