🔥 The key resistance level for Bitcoin is $76,800, or it may face short-term profit-taking by investors.


According to CoinDesk, Bitcoin is currently hovering around $75,000, with price facing supply pressure, but institutional demand remains stable.
Market sentiment is boosted by news of the extension of the ceasefire between the US and Iran.
The dollar has fallen to a nearly six-week low, with U.S. Treasury yields also retreating; such conditions typically support cryptocurrency prices.
Gold has also risen in tandem, indicating that the market is seeking a balance between risk appetite and safe-haven demand.
On-chain data shows that when the price hits the key cost basis level for short-term holders, Bitcoin often experiences increased supply; this level is around $76,800 and may serve as an important resistance, at which point investors might choose to take profits upon breaking even.
Morgan Stanley's newly established MSBT fund, with the lowest market fees, quickly attracted…
#btc
BTC0.02%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin