Bitcoin Surpasses $90,000, But Analysts Urge Caution
- On January 2nd, Bitcoin price rose above the psychological $90,000 mark.
- Analyst Burak Kesmeci emphasizes that Bitcoin needs to exceed the Short-Term Holder Realized Price of $99,000 to signal a potential bull run.
- The Short-Term Holder Realized Price is an on-chain metric indicating the average purchase price for short-term investors.
- Additional data highlights the importance of the $99,000 to $102,000 range for Bitcoin’s price trajectory.
- As of now, Bitcoin’s price is approximately $90,110, reflecting a recent increase of about 2% in the past day.
Despite Bitcoin’s post-holiday rally above $90,000, analysts like Burak Kesmeci caution that significant resistance remains at the Short-Term Holder Realized Price level of $99,000. This threshold is crucial for determining future market trends and investor confidence levels.
The convergence of data in the $99,000 to $102,000 range suggests that until these levels are surpassed, Bitcoin may continue facing challenges in sustaining its upward momentum. Source
