Recent on-chain data shows that there is a crucial accumulation range for Bitcoin, with over 1.3 million addresses holding positions between $94,800 and $97,700. This range is seen as a critical support zone for the cryptocurrency market, overshadowing other price levels in terms of demand concentration. While 482,000 addresses have acquired Bitcoin between the current price and $100,000, the most significant demand is concentrated within the $94,800 to $97,700 range. This indicates strong investor confidence in this price range, which could potentially act as a support level if Bitcoin faces downward pressure. Understanding these accumulation zones helps investors identify potential inflection points in the market. While some investors have positioned themselves at higher price points, the majority seem to view the $94,800 to $97,700 range as a more realistic entry point, suggesting cautious optimism among market participants. Overall, the $94,800 to $97,700 range is seen as a key support zone for Bitcoin, backed by over 1.3 million addresses, and may act as a foundation for future growth.



Other News from Today