Fun

Bitcoin Price Slips Under $84,000 — Key Support Levels To Watch

News Feed - 2025-03-30 12:03:22

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español.


The Bitcoin price put in one of its strongest performances in recent times over the past week, rallying to above the $88,000 level early on. However, the premier cryptocurrency experienced a steep correction on Friday, March 28, following the latest February core inflation data.


With the price of BTC now hovering beneath $84,000, panic seems to be growing in the market as investors fear further correction for the world’s largest cryptocurrency. Interestingly, the latest on-chain data show the critical support levels for the Bitcoin price. Is BTC At Risk Of A Fall To $71,000? 


In a recent post on the X platform, blockchain analytics firm Glassnode explained the recent investor behavior and how it could impact the Bitcoin price action over the next few days. This evaluation is based on the cost basis distribution data of investors around the Bitcoin price. Related Reading Bitcoin And Ethereum Face $14 Billion Options Expiry—Market Impact Ahead? 18 hours ago


According to Glassnode, the cost basis distribution data reflects the total Bitcoin supply held by addresses with an average cost basis within specific price buckets. As observed in the chart below, the heat map (color intensity) represents the magnitude of BTC supply in a price zone.


Source: @glassnode on XGlassnode data shows that a significant percentage of traders purchased roughly 15,000 BTC at the $78,000 level on March 10 before selling at the recent $87,000 local top. Following this latest round of redistribution, the BTC supply at the $78,000 level is now thin, weakening the support cushion. 


It is worth noting, though, that the next crucial support levels lie around $84,100, $82,090, and $80,920, where investors purchased 40,000 BTC, 50,000 BTC, and 20,000 BTC, respectively. However, the Bitcoin price could be at risk of a deep correction if it loses these levels.


In case of a deeper correction, $78,000 might not offer a strong enough cushion for the flagship cryptocurrency following the recent sell-off by investors previously holding at the level. Glassnode data shows that the Bitcoin price could fall to as low as $74,000, the next significant support level after $80,000.


The on-chain analytics platform highlighted $74,000 (where investors bought 49,000 BTC) and $71,000 (where investors bought 41,000 BTC) as the next support levels should the Bitcoin price fall beneath $80,000. “These levels reflect conviction-driven accumulation zones that could absorb additional downside pressure,” Glassnode added. Bitcoin Price At A Glance


As of this writing, the price of Bitcoin stands at around $83,800, reflecting an almost 4% decline in the past 24 hours. Related Reading XRP Must Break Above $3 To Invalidate Bearish Pattern And Flip Bullish – Analyst 1 day ago The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView

News Feed

Ethereum (ETH) Consolidates Within Tight Range As Key Support Level Forms – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Brussels to Put Out Digital Euro Law Shortly, ECB’s Lagarde Says
Brussels to Put Out Digital Euro Law Shortly, ECB’s Lagarde Says The European Commission is going to present a legislative proposal for a digital euro in the near future, Preside
South Korea Passes Bill to Regulate Cryptocurrency in Line With FATF Standards
South Korea Passes Bill to Regulate Cryptocurrency in Line With FATF Standards South Korea’s National Assembly finally passed a bill that provides a framework for the regul
Tom Blackstone3 hours agoCrypto funds see largest weekly inflows in more than a year: CoinSharesCrypto exchange-traded products saw $326 million in inflows during the week ending Oct. 27, according to a report from CoinS
RWA protocols are closing in on $8B total value locked: Messari
Martin Young5 hours agoRWA protocols are closing in on $8B total value locked: MessariThe TVL across real-world asset tokenization protocols has surged almost 60% since February, says blockchain analytics firm Messari.14
Defi Protocol Anchor to Implement ‘Semi-Dynamic Earn Rate’ Following Governance Vote
Defi Protocol Anchor to Implement "Semi-Dynamic Earn Rate" Following Governance Vote On Thursday, the team behind the lending protocol Anchor announced that a proposal has passed a
Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’
Billionaire Barry Sternlicht Warns of Hard Landing — Says "Economy Is Going to Implode" Billionaire Barry Sternlicht, chairman and CEO of Starwood Capital Group, has warned that
Bitcoin Price Repeating December 2023’s Playbook: Is The ‘Actual Breakout’ Yet To Come?
Este artículo también está disponible en español. Bitcoin (BTC) tries the $100,000 support zone after falling to $98,000 during the recent market shakeout. According to s
Bahamian Government Officials Allegedly Asked SBF to Mint Millions of Dollars in New Tokens Amid the FTX Collapse
Bahamian Government Officials Allegedly Asked SBF to Mint Millions of Dollars in New Tokens Amid the FTX Collapse On Monday, court documents from lawyers involved with the FTX Trad
Russia Gears Up to Regulate NFTs Through Legislative Amendments
Russia Gears Up to Regulate NFTs Through Legislative Amendments Authorities in Russia are preparing a number of changes to existing laws in order to adopt rules for the country
Ezra Reguerra14 hours agoNFT sales volume upward trend to continue, industry execs sayCoinW executive Sonia Shaw told Cointelegraph that the recent uptick in NFT sales shows a “broader and more profound interest” ext
Binance US Plans to Acquire Voyager Digital’s Assets for $1 Billion in Bankruptcy Bid
Binance US Plans to Acquire Voyager Digital"s Assets for $1 Billion in Bankruptcy Bid According to a Binance blog post, Binance US has entered an agreement with Voyager Digital Ltd