According to TechFlow, blockchain analytics firm IntoTheBlock shared insights on X about Bitcoin's accumulation patterns. The data underscores that the real buying interest is concentrated between $94,800 and $97,700, where over 1.3 million unique wallet addresses have added BTC to their holdings.
Key Support Zone for Bitcoin
This accumulation zone highlights strong investor confidence in Bitcoin’s price stability within this range, positioning it as a potential support level. Historically, such clusters of wallet activity act as a buffer, preventing sharp price declines and offering critical stability during market fluctuations.
Near-Term Outlook
While 482,000 addresses have shown interest between the current trading range and $100,000, the larger concentration of addresses in the $94,800 to $97,700 range suggests a solid foundation for Bitcoin's price. Should prices dip, this range may serve as a strong support level, maintaining market equilibrium.
Bitcoin enthusiasts and traders will be closely monitoring these levels for signs of breakouts or rebounds, shaping the cryptocurrency’s short-term trajectory.
