Bitcoin's price has experienced significant volatility, fluctuating around the $70,000 level. Despite this, the market has seen selling pressure from both short-term and long-term holders.
Currently, Bitcoin is consolidating sideways above the $60,000 level, indicating a period of price stabilization amidst the ongoing market fluctuations.
Examining the market from two perspectives reveals key support zones at approximately $60,000 and $57,000. The $57,000 zone correlates with the realized price of highly active Bitcoin addresses, while the $60,000 zone corresponds to the realized price of short-term Bitcoin whales.
First Metric: Highly Active Addresses Realized Price
Second Metric: STH<H Whales Realized Price
As long as Bitcoin's price remains above these support zones, the risk of major corrections and the breakdown of its short-term upward momentum is minimized. This consolidation period offers an opportunity for Dollar-Cost Averaging (DCA) strategies, providing investors with a chance to accumulate Bitcoin at favorable prices.
Written by Crazzyblockk