Summary
- Ju Ki-young, CEO of CryptoQuant, said Bitcoin(BTC)'s key support level is around $94,000.
- He said it is difficult to judge a bearish shift based solely on the current price correction.
- He said it would be more reasonable to monitor whether the key support level is maintained.
Ju Ki-young, CEO of CryptoQuant, said Bitcoin(BTC)'s key support level is around $94,000, and that it is difficult to view the current correction alone as a 'bearish shift'.
On the 14th (Korean time), Ju said on X (formerly Twitter), "The average purchase price of investors who bought Bitcoin 6~12 months ago is about $94,000," and explained, "It is difficult to say that the bearish cycle is confirmed until this price level is clearly broken downward." He added, "In the current situation, it is more reasonable to watch whether the key support level is maintained rather than drawing hasty conclusions."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin slips below $77,000…Ethereum also breaks below $2,300](https://media.bloomingbit.io/PROD/news/f368fdee-cfea-4682-a5a1-926caa66b807.webp?w=250)
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