The weekly recovery of over 7% has pushed bitcoin’s price briefly above $67,500 – a level not seen in almost a month. The world’s leading crypto asset is currently eying to establish a new peak.
With the latest upward price action, BTC has found new support. If flipped, however, this level could also prove to be a major resistance area.
$61.5K: Crucial Level Emerges
The level of $61.5k could potentially serve as strong support for the asset when considering the Short-Term Holder (STH) Realized Price, a metric that reflects the realized capital of those BTC holders who have held their coins from a day to six months.
This group of investors makes up 53.48% of the total market cap and hence carries a significant weight.
Within this cohort, CryptoQuant identified the 0-day to 1-week Bitcoin STH, capturing 10.6% of the market, closely tracks the spot price, and thus often does not indicate significant variance. Meanwhile, the 1 week to 6 months group, accounts for 47.78% of the market
We współpracy z: https://cryptopotato.com/this-bitcoin-btc-support-level-could-flip-to-resistance-if-broken/
