One person who studies cryptocurrencies said that $66,000 is a key level for Bitcoin’s price, which could change its short-term path. A well-known crypto analyst named Ali Martinez talked about the X platform and emphasized how important the “warm supply realized price” measure is.
It shows the average price at which Bitcoin was bought and hasn’t changed in the last one to three months. It tells buyers about both the technical and social aspects of the deal. It’s important to know the warm supply realized price because it tells us how buyers feel.
Bitcoin Price Near Key Level
People who buy Bitcoin for the first time normally make money when the price is above this level. But if it goes below $66,000, a lot of new buyers will lose money. This could make more people want to sell, which would start a bearish trend.
Based on data from Glassnode, the current recognized price for warm supply is around $66,000. Martinez says that if Bitcoin can’t stay above this level, its prices may drop even more as more people sell. This could be the start of a long bear phase.
A few experts at QCP Capital also said they think BTC will stay around $58,000 to $65,000 for a few more weeks. They said the market isn’t responding as strongly to normal signs of rising prices. This means that BTC might stay stable until there are new signs of hope.
From what CoinGecko can tell, Bitcoin’s value has gone down more than 8% in the past week and only 0.3% in the past 24 hours. It’s being sold for about $58,950 right now.
