According to Mars Finance, CoinDesk analyst James Van Straten stated that approximately 15% of Bitcoin's supply is currently concentrated around the 200-day moving average, roughly in the $83,000 to $85,000 range. He believes that if Bitcoin breaks through $85,000, it could quickly rise to $95,000. Furthermore, the Real Market Mean (TMM) and short-term holder cost base still provide key support around $78,000.
Analysts believe that the $78,000 level remains a key support level for Bitcoin, and a break above $85,000 could lead to a rapid rise to $95,000.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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