Against the background of #bitcoin☀️ ($BTC
) price consolidation near the historical maximum, more than 320 thousand unique addresses are actively interacting in the network. This figure indicates the high activity of market participants in the current price range, which emphasizes its importance for traders and #investors . It is particularly noteworthy that about 220 thousand addresses purchased their coins at an average price of about $68,500, which may indicate the presence of a strong support level at this mark.
The average purchase price at this value makes this a key level for the market, as many participants continue to hold their positions despite the fluctuations. Historically, such marks can serve as support zones where buyers actively accumulate the asset, which helps to strengthen the rate in the event of a decline.
The current situation reminds of the importance of psychological barriers in cryptocurrency trading. The level near the historical maximum attracts the attention of both short-term traders and long-term investors. If the bitcoin price stabilizes or starts to rise, it could trigger even more involvement of new participants and capital into the market.
At the same time, there remains the possibility that the price could test lower support levels. In case of a decline under $68,500, active holders who purchased bitcoin at these marks may start selling off assets to avoid losses, leading to a further correction.
Analysts also point to the possibility of increased pressure on #Bitcoin❗ in terms of global economic factors such as rising interest rates and inflation expectations. These factors could affect the short-term outlook for #BTC☀ , although the long-term outlook for the coin remains optimistic in light of its role as a savings and protection asset.
