Bitcoin Cost-Basis Heatmap Highlights $85K as Strong Support Zone
- Approximately 976,000 BTC, valued at $83 billion, were acquired around the $85,000 level.
- The cost-basis heatmap indicates a significant concentration of demand at this price point.
- This zone represents a key area where buyers made substantial acquisitions.
- The heatmap reflects wallet-level acquisition data, showcasing where most BTC purchases occurred.
- High-volume clusters like this often act as support during market retracements.
Trading Analysis
Trading Signal: BULLISH (Score: +8)
The strong demand cluster at $85K suggests potential price stability if revisited.
Price Levels:
Current: Not specified
Support: $85,000 | Resistance: Not specified
24h/Recent Range: Not specified
The acquisition of nearly 976,000 BTC around the $85K level underscores its significance as a support zone. This concentration could provide stability for Bitcoin if prices approach this level again.
Source (3.2)https://cryptobriefing.com/bitcoin-support-zone-85000/?rand=59535
