Brothers, Bitcoin is now at an extremely critical position, $97,000! The data agency Sentora has just issued an alert: Around this price, there were about 1.6 million wallet addresses that bought Bitcoin here, totaling 1.14 million coins! Think about it, 1.14 million coins is no small number, accounting for about 6% of the circulating supply, worth over $100 billion! These 1.6 million addresses have built a 'human wall' at this price level. If this wall collapses, the consequences could be dire...
Why is $97,000 considered a 'critical line'? You must understand these three points:
First, this is the last fortress for retail investors. These 1.6 million addresses are mostly ordinary holders like you and me, not major institutions. Their average buying cost is around $97,000. Once the price of Bitcoin falls below this level and breaches their cost line, think about what will happen? Panic! A large number of stop-loss orders will be triggered, causing a 'chain reaction' similar to a domino effect, and the selling wave could wipe out the market in an instant!
Step 2: This is the target for the bears. Those short-selling hedge funds are fixated on this level of 97,000. They are thinking, 'If we can push the price below 97k, we can trigger a potential selling pressure of ten billion dollars!' For them, breaking this level is like pressing the nuclear button.
Step 3: This is the dividing line between bulls and bears. Look at historical patterns: If Bitcoin's weekly closing price can firmly hold this key support area with high concentration of positions, there is an 80% chance that a major upward wave will begin! Conversely, if it completely loses this level? Then it might slide down to $80,000 or even deeper into the abyss.
In the face of this situation, what can ordinary people do? A three-step self-rescue guide:
Step 1: Keep an eye on key signals. Use on-chain data websites (like Glassnode) to see if the number of addresses around 97,000 has changed. If the number is still increasing, it indicates that funds are supporting the price, which is a good sign. Also, pay close attention to the funding rates of perpetual contracts on major exchanges like Binance. If it turns into a significant negative value (for example, below -0.1%), be cautious, as this often signals that shorts are gaining strength, potentially leading to a major sell-off!
Step 2: Define your own position's critical line. This depends on where your cost is:
If your cost is above $100,000: Be especially cautious! If it falls below 97,000, don’t hesitate to reduce your position by a portion (for example, 30%) to protect your capital and control risks.
If your cost is below $90,000: Relatively speaking, your safety cushion is thicker. You can set a buy order around $96,800 in advance. In case of market panic resulting in a 'flash crash' (a sudden drop followed by a quick rebound), this is your opportunity to buy low!
If you are a dollar-cost averaging investor: Your strategy can be more proactive! If it really falls below $97,000, don’t be afraid; instead, consider doubling your buy! This will lower your average cost.
Step 3: Set the alarms! Immediately set two key price alerts in your exchange app:
Alert 1: Bitcoin = $97,200 — This is the last warning window, reminding you that the price is approaching a critical line, so pay close attention!
Alert 2: Bitcoin = $96,500 — This is a clear breakdown signal! At this point, stop-losses should be executed, and those looking to buy the dip can act according to their plans.
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