Summary
- It has been analyzed that as Bitcoin plummets, a major support level could form at $97,600.
- The Coinbase premium index turning negative reveals a decrease in buying pressure from U.S. investors.
- The 7 to 30-day average realized price of Bitcoin is $97,600, which could act as a major support level.
On this day, Bitcoin (BTC) experienced a sharp decline, falling below $100,000, with analysis suggesting that a major support level could be forming at $97,600.
On the 19th, a contributor from TugbaChain CryptoQuant reported, "The recent shift of the Coinbase premium index into negative territory indicates a decrease in buying pressure from U.S. investors."
He further added, "Therefore, the average realized price for investors over the past 7 to 30 days, which is $97,600, could potentially serve as a major support level for Bitcoin."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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