Bitcoin’s (BTC) Future Hinges on These 2 Key Levels

Bitcoin (BTC) is trading in an ascending price channel, and the market situation indicates that it is approaching a key turning point. Two distinct levels are being monitored by analysts: a move above $105,000 could confirm ongoing momentum, and a decline below $83,000 could signal a systematic shift.

Key Bitcoin Price Levels Under Watch

EGRAG CRYPTO posted that Bitcoin is compressing near the lower side of its rising trend. According to their breakdown, the channel is still holding, but pressure is building.

If that happens, it could open the way toward the $180K to $210K zone. However, they warned that “a weekly close below $83K would break the channel” and suggested weakness in the current cycle.

For now, the price action still respects the existing structure. Bitcoin touched a high of $98,000 on Thursday before dropping slightly on news related to a delay in legislative discussions. Despite this, it has held above $96,000 and remains up by over 6% this week.

Price Movement and Market Conditions

Bitcoin is outperforming many other assets even as broader markets turn cautious. The total crypto market cap stands at $3.34 trillion, with BTC making up over 57% of it.

Rekt Capital commented that Bitcoin’s current price behavior is similar to what was seen in late November 2024. “Bitcoin could weekly close around $97K but retest $93,500 next week,” they shared. They also noted that BTC is near its Bull Market EMAs but has not yet confirmed these levels as support.

In addition, Bitcoin is also testing key moving averages. According to Merlijn The Trader, the asset has reclaimed its 50-day average. Holding this level could support a continuation higher, with the next resistance at the 100-day average.

Whales in Control, Retail Cools Off

CW shared that large holders continue to dominate trading volume. The recent drop in demand from smaller buyers may create pressure during any downside moves.

Meanwhile, data shared by CryptosRus suggests that long-term holders are selling less. “OG selling at local tops has been rolling over,” they wrote. Coins that have been held for five or more years are not moving at the same pace as earlier in the cycle.

This shift could reduce supply in the short term. If demand stays steady while older coins remain off the market, Bitcoin may find support more easily.

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