Recent market movements have seen Bitcoin decline from its peak above $100,000, encountering resistance at that psychological level. This downturn has brought several key support levels into focus:
$97,200: Identified as the Short-Term Holder (STH) Realized Price, this level represents the average acquisition cost for short-term investors over the past one to three months. Holding above this point is crucial to maintain short-term bullish sentiment.
$96,000: Serving as immediate support, maintaining this level could prevent further declines and potentially facilitate a rebound toward the $100,000 resistance.
$93,000: A critical support level; a drop below this threshold could trigger significant liquidations, potentially accelerating downward momentum.
The recent price decline is partly attributed to macroeconomic factors, notably the imposition of new tariffs by the U.S. on imports from Canada, Mexico, and China. These trade tensions have heightened market uncertainty, leading to risk-off behavior among investors and impacting Bitcoin's price.
Looking ahead, several events in February 2025 could influence Bitcoin's price:
Germany's Parliamentary Election (February 23): The election outcome may affect financial markets, including Bitcoin, especially if parties with strong stances on cryptocurrency regulation gain power.
U.S. Trade Policy Developments: Ongoing trade negotiations and potential retaliatory measures could further impact market sentiment and, by extension, Bitcoin's valuation.
Investors should monitor these support levels and upcoming events closely, as they are likely to play significant roles in Bitcoin's near-term price dynamics.
$97,200: Identified as the Short-Term Holder (STH) Realized Price, this level represents the average acquisition cost for short-term investors over the past one to three months. Holding above this point is crucial to maintain short-term bullish sentiment.
$96,000: Serving as immediate support, maintaining this level could prevent further declines and potentially facilitate a rebound toward the $100,000 resistance.
$93,000: A critical support level; a drop below this threshold could trigger significant liquidations, potentially accelerating downward momentum.
The recent price decline is partly attributed to macroeconomic factors, notably the imposition of new tariffs by the U.S. on imports from Canada, Mexico, and China. These trade tensions have heightened market uncertainty, leading to risk-off behavior among investors and impacting Bitcoin's price.
Looking ahead, several events in February 2025 could influence Bitcoin's price:
Germany's Parliamentary Election (February 23): The election outcome may affect financial markets, including Bitcoin, especially if parties with strong stances on cryptocurrency regulation gain power.
U.S. Trade Policy Developments: Ongoing trade negotiations and potential retaliatory measures could further impact market sentiment and, by extension, Bitcoin's valuation.
Investors should monitor these support levels and upcoming events closely, as they are likely to play significant roles in Bitcoin's near-term price dynamics.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.