The article discusses Bitcoin's potential support level at $97,530 and its importance in sustaining the current bullish momentum. Analyst Ali believes that staying above this level is crucial for Bitcoin to continue its upward trajectory. The UTXO Realized Price Distribution (URPD) chart indicates strong buying interest and support at this level, similar to previous ATH consolidation phases. The Sell-Side Risk Ratio has declined, indicating diminishing sell-side pressure. The article emphasizes that maintaining the $97,530 support level is key for Bitcoin to retest and potentially reach a new all-time high, while failing to hold this level could introduce risks to the bullish run.
CryptoQuant Analyst, Coinbase CEO Advocate for Countries to Prioritize Bitcoin Over Gold: Here’s Why