Bitcoin is currently facing a potential breakdown as it struggles with its ascending channel's midline around the $92K mark. Despite this, there are several support levels ahead that could fuel optimism for a bullish recovery. If the key support at $92K is breached, Bitcoin could experience a cascade of long liquidations and potentially fall towards the 100-day moving average at $81K. On the other hand, a rebound at the current level could see Bitcoin regain bullish momentum and aim for the upper boundary of the channel at $108K. Market uncertainty and speculation surrounding President Trump's inauguration are contributing to Bitcoin's current volatility. The realized price UTXO age bands, particularly for the 1-3 month cohort, provide insights into market behavior, with a sustained price above this threshold indicating bullish momentum and a potential sell-off if the price drops below it. Currently, the realized price for the 1-3 month cohort is at the critical support zone of $81K.



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