After a short-term correction in Bitcoin's price, market sentiment has become cautious. However, on-chain data reveals an encouraging signal: $95,000 may become a key support level for BTC.
🧠 Strength and Weakness Chip Distribution: On-chain Evidence of Support Levels
According to BlockBeats' on-chain analysis, the current BTC holdings are mainly concentrated in the $95K to $100K range. This distribution indicates that a large number of investors have established positions in this price range, forming solid support.
In addition, the risk indicators in the derivatives market also show a similar trend. The demand for put options in the options market has decreased, indicating that investors' concerns about price declines have lessened. At the same time, the funding rates in the futures market remain positive, reflecting a recovery in bullish sentiment.
🐋 Wallet Behavior: Active Participation of Small and Medium Investors
On-chain data shows that the number of medium wallets holding 10 to 100 BTC continues to grow, indicating that small and medium investors are actively accumulating positions. Meanwhile, the number of small wallets holding less than 1 BTC is also increasing, reflecting the enthusiasm of retail investors.
This phenomenon of 'whales' and 'shrimps' simultaneously increasing their holdings usually indicates healthy market development. Historical experience shows that when investors of different sizes are optimistic about the market at the same time, prices tend to rise.
📊 Technical Indicators: Opportunities in Short-term Adjustments
From a technical analysis perspective, the daily chart of BTC shows that prices have formed solid support in the range of $95K to $100K. The Relative Strength Index (RSI) has retreated from overbought territory into neutral territory, indicating that the market is digesting previous gains and building strength for the next round of increases.
In addition, the Moving Average (MA) indicators show that the short-term moving averages are still above the long-term moving averages, maintaining a bullish arrangement, which supports the possibility of continued price increases.
🔮 Conclusion: The Strategic Significance of $95K
Combining on-chain data and technical analysis, $95K is not only a psychological barrier but also a price range with substantial support. Investors should pay attention to price performance in this area to assess the next steps of the market.
For long-term investors, the current price adjustment may be a good opportunity to increase positions. For short-term traders, it is important to closely monitor market sentiment and changes in technical indicators to flexibly adjust strategies.
The content of this article is for reference only and does not constitute investment advice. Investing involves risks; proceed with caution.
