What Level Must Be Exceeded for Selling Pressure to Ease in Bitcoin? Here's the Critical Point

Source: CryptoNewsNet Original Title: What Level Must Be Exceeded for Selling Pressure to Ease in Bitcoin? Here’s the Critical Point Original Link: On-chain analytics platform Glassnode revealed that Bitcoin has been trading below the 0.75 Fibonacci retracement level since mid-November, meaning that more than 25% of the total supply is currently at a loss.

This situation, according to analysts, shows that the market is in a fragile balance.

According to the analyst, the current structure is open to two scenarios: investors who bought at higher levels are driven into capitulation by placing stop-losses, or selling pressure dissipates and a temporary bottom forms. Therefore, the price level is considered a critical stress point.

In the current environment, where Bitcoin is trading around $92,000, sensitivity to macroeconomic shocks remains high. Glassnode argued that for the market to achieve more stability, it must first reclaim the 0.75 Fibonacci level of $95,800 and then the 0.85 level of $106,200.

Unless these levels are regained, the Bitcoin market is expected to continue to exhibit a volatile outlook in terms of both investor psychology and liquidity.