The cryptocurrency market sentiment has shifted bearish and Bitcoin has experienced a 10% price decline. However, on-chain analytics firm Coinglass reports that long-term holders are accumulating Bitcoin as exchanges witnessed an outflow of over $1.02 billion worth of BTC. This indicates that whales and long-term holders are taking advantage of the price decline. Bitcoin has reached a crucial level near $92,250, historically resulting in price rebounds. Experts speculate a similar upside momentum could occur, potentially pushing Bitcoin to the $100,000 mark. However, if Bitcoin fails to hold this level and drops below $91,000, it could reach a support level at $74,000. Bitcoin is currently trading near $92,450 with a 1.40% price decline in the past 24 hours. Trading volume has dropped by 9%.



Other News from Today