$BTC
The recent price trend of Bitcoin has attracted significant market attention. Today, it fell below 93,000, encountering significant resistance in the 94,000 - 95,000 price range, while 89,000 - 90,000 constitutes an important support line during pullbacks.
The key factor driving the upward movement of Bitcoin's price is the market's strong expectation of easing tariffs between the U.S. and China. Driven by this, Bitcoin's price surged to 94,700 USD, briefly breaking through the crucial short-term holder cost basis of 92,900, which is often seen as an important watershed for the market's transition from a bear market to a bull market.
From the perspective of market participants' profit and loss situation, the profit-loss ratio for short-term holders has risen to 1.0, indicating that investors who entered the market recently are generally in a break-even state, leading to potential risks of selling to lock in profits. In the current market landscape, the proportion of supply in a profitable state has reached as high as 87.3%, compared to 82.7% when Bitcoin was at a similar price level last time, showing a significant increase of 5%. This suggests that a large amount of turnover trading has been completed at low levels recently.
