Mmastodon BusinessCrypto first seen 4 h ago, last 4 h ago, peak #6
Bitcoin retests key long-term holder supply zone near $85,000
Original: Bitcoin retests key long-term holder supply zone as leverage clears, analysts say Bitcoin is testing a dense long-term h
Bitcoin is testing a dense long-term holder supply cluster around $84,000-$85,000, according to analysts. At the same time, futures open interest is falling, meaning leveraged positions are being cleared from the market. Analysts point to the zone as a key level, since heavy accumulation by long-term holders there could influence whether the price holds or breaks further.
Why now: Traders are watching whether this long-term holder cost-basis zone will hold as a floor after leverage is flushed out.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/434359