Bitcoin Price Could Reach $131,800 If It Holds Above $93,145
The Bitcoin price has shown strong performance recently, with speculation about reaching the $100,000 mark. On-chain data indicates potential for new all-time highs in the coming weeks.
Bitcoin Price Support and Projections
- Analyst Ali Martinez suggests BTC could rise to $131,800 if it stays above a critical support level.
- The Short-Term Holder Cost Basis is at approximately $93,145, a crucial psychological support level.
- Maintaining this support signals bullish momentum; falling below may lead to increased selling pressure.
- A drop beneath $93,145 could result in a decline towards the next support at around $71,150.
- Current Bitcoin price is approximately $94,410, down 0.6% in 24 hours but up over 10% weekly.
Whale Activity and Market Impact
- Bitcoin whales have been active, purchasing over 20,000 BTC in 48 hours.
- This activity from large holders could provide momentum for a potential price rally.
