📊 Analysis of BTC market dynamics: panic has not yet appeared, in-depth interpretation of the 64000 support level 🔍
According to the latest TC data analysis, we can clearly see that despite the increase in market turnover, panic has not spread significantly in the BTC market. It is worth noting that more than 80% of loss-making investors have chosen to leave the market, while the withdrawal rate of short-term profit-making investors is only about 12%. This data shows that the correction in BTC prices has not had a substantial impact on the long-term investment strategies of early investors. 💼
When discussing the support level, we must clarify a concept: there is an essential difference between the support level of the on-chain data and the support level on the K-line chart. The support level of on-chain data more reflects the true position status of most investors, especially in chip-intensive areas. Currently, the range of $60,000 to $69,000 is the intensive support area for BTC, and short-term investors are more concentrated in the range of $60,000 to $63,000. However, the real solid support zone lies above $64,000. 📊
The significance of this support level is that it represents a price range in which a large number of investors are not panic selling in response to market volatility. The persistence of these investors constitutes a strong support for the price of BTC, making this price range not only difficult to fall below, but also likely to become an important return point after the market correction. 📉
As financial professionals, we should have a deep understanding of the concept of support levels in on-chain data to more fully grasp market dynamics. Every market correction is a test of investors' faith, and the real support is often hidden deep in the data, waiting for us to dig and analyze. 🔍
