Bitcoin’s price has been hanging out between $92,000 and $102,000 lately, leaving everyone wondering what’s next. While a new all-time high isn’t guaranteed, it would take a serious downturn to push the price much lower. But there’s a specific price point that could be really important in the short term.
The $96,000 Significance
An analyst on CryptoQuant, going by the name ShayanBTC, has pointed out a fascinating detail. They looked at the “Realized Price” of Bitcoin held by different groups of investors. This basically means the average price at which those investors bought their Bitcoin. They’re focusing on investors who’ve held their Bitcoin for 1 to 3 months – the “short-term holders.”
This group’s average purchase price is currently around $96,000. Historically, Bitcoin’s price has tended to stay above this average purchase price for this group. It suggests that these short-term holders are generally holding onto their Bitcoin, even if the price dips a bit.
Holding Above $96,000: Bullish or Bearish?
ShayanBTC says that Bitcoin staying above $96,000 is a good sign. It keeps the positive market sentiment going and makes a continued price increase more likely.
However, if the price falls below $96,000, it could spook investors. Some might start selling, potentially causing a bigger drop.
Bitcoin’s Current State
Right now, Bitcoin is trading around $96,500. It hasn’t moved much in the last 24 hours. The price dropped from over $100,000 earlier in the week due to some negative news about US trade policies. Overall, it’s down about 4% in the last week.
