In recent days, Bitcoin has experienced a remarkable surge, reaching the $66,000 range. However, based on its performance over the last 24 hours, this level has not held successfully, and the price is currently fluctuating around $63,000.
Given the current market conditions and the lackluster demand in the Bitcoin market, it is crucial in the short term that the $62,000 range is maintained, as it represents the average realized price for short-term whale holders.
These investors, who have been steadily accumulating Bitcoin over the past few months, have played a significant role in shaping the dynamic price movements. Consequently, maintaining the uptrend formed in recent days is contingent upon Bitcoin remaining above the critical $62,000 level.
Written by Crazzyblockk
