#Bitcoin support level exposed#

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Overview

Currently, Bitcoin's key support level is between $96,475 and $99,574, a conclusion drawn by analyst Ali Martinez based on data analysis. He disclosed that 1.87 million addresses purchased 1.79 million Bitcoin, indicating strong buying power in this price range, potentially acting as a significant support level during a price decline.

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Analysis

Analyst Ali Martinez points out that the current key support level for Bitcoin is between $96,475 and $99,574. This conclusion is based on data analysis showing that 1.79 million Bitcoins were purchased by 1.87 million addresses concentrated within this price range. This means that if Bitcoin price falls below this range, it will face significant selling pressure, potentially leading to further price declines. However, if the price manages to hold above this range, it indicates strong support for this price level, potentially signaling a possible price rebound.

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