Bitcoin prices have not exceeded $ 110,000 despite the positive job data in the United States on Friday, July 4th. Flagship Cryptocurrency returns to about $ 107,000, reflecting the decisive state of the current extensive password market.
Bitcoin prices have been moved within the last few weeks, but have enjoyed optimistic support to maintain a record distance of $ 111,814. Next is that $ 105,000 can be the next critical support of market leaders.
Analysts explain why $ 105,000 is important
A prominent on -chain analyst, Burak Kesmeci, visited Social Media Platform X and shared the latest Bitcoin price evaluation. According to the online Crypto Pundit, the price of the BTC is more likely to witness upward momentum if it is higher than the $ 105,799’s important support over the next few weeks.
This prediction is based on the realized price UTXO age, and estimates the average price of purchasing BTC compared to the period of coin. Specifically, Kesmeci emphasized that you can see the age group (green line) of one to one month.
Source: @burak_kesmeci
Considering the short period of time, the band of this era said, “We provide insight into the behavior of short -term holders and potential market feelings.
When posting a post on X, the one -one -month age range was about $ 105,799, which means that the price of the BTC can depend on this level.
The basis for this prognosis is that STH is likely to defend its position by purchasing more coins by purchasing more coins when the Bitcoin price returns to this level by about $ 105,799 in cost.
KESMECI pointed out that investors, who have exceeded the level of $ 105,799, can expect more positive price movement.
Bitcoin price at a glance
At the time of this article, the price of BTC is over $ 108,100 and has been reduced by more than 1% over the last 24 hours. Even though it reached a maximum of $ 110,300 on the 7th, but it reached about $ 105,430, Premier cryptocurrency returned to the place where the state began. According to Coingecko’s data, the price of bitcoin is only 1%during the weekly period.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Istock’s main image, TradingView chart
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