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This article is also available in Spanish.
The price of Bitcoin has been in a living red form in the last two weeks, which leads to the conversations of the main cryptocurrency that claims the significant brand of $ 100,000. Interestingly, the latest data in the chain suggest that the BTC price could fly beyond this level and forge a new historical maximum in the coming weeks.
What will happen if Bitcoin Price falls below $ 93,145?
In a April 26 publication in X, the popular cryptographic analyst Ali MartÃnez shared An analysis and exciting projection for the price of Bitcoin in the coming weeks. According to the online expert, the badly cryptocurrency could be on the way to up to $ 131,800 provided that it remains above a critical support level.
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This projection is based on the cost of the short -term holder (STH), which measures the average price to which recent investors, typically defined as wallets that Bitcoin have for less than 155 days, acquired their currencies. This metric often offers information on the feeling of short -term investors and can act as a psychological level or relevant resistance level.
When the price of Bitcoin is above the STH cost base, it usually indicates a bullish impulse among short -term market participants. On the other hand, a sustained breakdown under this metric could cause greater sale pressure, since short -term holders are known by their speculative and reactive nature.
According to Glassnode data, the basis of the short -term holder cost is currently around $ 93,145, which represents a crucial support level for the price of Bitcoin. MartÃnez said that the main cryptocurrency must be maintained above this running support at a new high historical price of $ 131,800.
However, MartÃnez warned that if the price of Bitcoin does not defend the support cushion of $ 93,145, this could open the door to a broader correction. In this case, the market leader may suffer a deep price setback towards the next level of important support around $ 71,150, a decrease of almost 25% since the current price.
At the time of writing this article, the price of Bitcoin is around $ 94,410, reflecting a 0.6% decrease in the last 24 hours. According to Coingcko data, the main cryptocurrency has increased by more than 10% in the weekly period.
Could BTC whales provide the necessary bullish impulse?
In a separate publication in X, MartÃnez revealed That Bitcoin whales have been occupying in the market, carrying their bags after the recent price rally. Whales are important market participants due to their substantial properties and also their often informed commercial decisions and positions.
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Santiment’s data show that Bitcoin whales (which have between 1,000 and 10,000 coins) bought more than 20,000 BTC in the last 48 hours. With this greater activity of purchase of large investors, the price of Bitcoin could obtain the necessary impulse to try to run in a new historical maximum.
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