Bitcoin is treading between $82,000 and $87,000. Analysts believe a decisive move is imminent.
Current Market Situation
A report by blockchain analytics firm Glassnode revealed that most investors who entered the market after 2020 still hold their Bitcoin despite recent volatility. There was a slight 3% decline in holdings since November 2024, but long-term holders from 2018 to 2020 have largely exited the market by December 2024.
Analyst Insights on Price Levels
Bitcoin is trading at $84,734. Prominent analyst Michael van de Poppe described the $82K–$87K range as 'noise'. Analyst Ali Martinez added BTC is facing resistance from the 200-day moving average at $86,200 and the 50-day moving average at $88,300. Breaking these levels could shift momentum back to bulls.
What Traders Should Monitor
Experts suggest Bitcoin must hold above $82,000 and break past $88,300 to regain a bullish outlook. Short-term traders should focus on the $86,200–$88,300 resistance zone, crucial for the next move.
The current situation demands close attention to key support and resistance levels. A breakout could define Bitcoin's next move.
