Bitcoin (BTC) Price at a “Very Critical Crossroads” – Analysts Reveal What It Takes to Avoid a Drop to $93,000

Cryptocurrency analysis firm Glassnode stated in its latest report that the Bitcoin market is at a “critical juncture.” According to the analysis, Bitcoin is still stuck in the $110,000-$116,000 range, and this range plays a decisive role for ￰0￱ recovery, which began at $107,000 after the pullback from the all-time high recorded in August, was supported by dip-buying, according to the report. However, profit-taking by short-term investors and selling at a loss by those who bought at the peak are weighing on bullish ￰1￱ noted that sustaining above the $114,000 level could restore confidence and encourage new inflows, while in the opposite scenario, a break below $108,000 would increase the risk of a pullback to $93,000.

On the ETF side, it was noted that the strong inflows that propelled prices upwards in March and December 2024 have ￰2￱ inflows and outflows are around ±500 BTC, indicating a significant decrease in demand from traditional ￰3￱ News: The Wealth of Arthur Hayes, the Big Altcoin Bull, Revealed - Here Are the Cryptocurrencies He Holds In contrast, derivatives markets, namely futures and options, have become the primary drivers of market ￰4￱ the base rate and trading volume appear balanced in futures, the increase in option open positions indicates a more risk-managed market ￰5￱ concluded its report with the following statement: “The Bitcoin market is currently in a delicate balance between selling pressure and weakening ￰6￱ markets are absorbing the deepening sell-off, keeping the structure afloat, but a sustained rally requires renewed strength in spot demand.” *This is not investment ￰7￱ Reading: Bitcoin (BTC) Price at a “Very Critical Crossroads” – Analysts Reveal What It Takes to Avoid a Drop to $93,000