Fun

Watch Out For These Levels If Bitcoin Price Returns To $100K: Blockchain Firm

News Feed - 2025-06-08 05:06:44

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.


The Bitcoin price has not had quite the same spark it did at the beginning of the last month so far in June. The premier cryptocurrency has somewhat struggled to break out of a consolidation range since reaching a new all-time high in the month of May.


The Bitcoin price recently succumbed to bearish pressure, falling to around $101,000 on Friday, June 6. While the market leader has enjoyed some resurgence to begin the weekend, a prominent blockchain firm has now identified significant levels i n the event of a return to the $100,000 level in the coming days. Here Are The Next Support Levels For BTC


In a June 6 post on the social media platform X, crypto analytics firm Sentora (previously known as IntoTheBlock) revealed an interesting on-chain perspective on the price of Bitcoin and its latest dip toward $100,000. According to the intelligence platform, there are some significant levels lying just beneath the six-figure valuation threshold.


This analysis is based on the average cost basis of several Bitcoin investors and the distribution of the BTC supply around the current price. For context, cost-basis analysis basically evaluates the capacity of a price level to act as support or resistance, depending on the volume of crypto last acquired by investors at this level.


As observed in the chart below, the size of the dots directly corresponds with the quantity of BTC  purchased within each price bracket and the region’s capacity to act as support or resistance. Source: @SentoraHQ on X


This implies that the larger the dot, the higher the number of coins purchased, and the stronger the support or resistance level; the green dots are support (as they are usually below the current price), while the red dots serve as resistance (as they are above the asset price).


According to data by Sentora, the Bitcoin price seems to have major support within the $95,000 – $99.000 region due to heavy accumulation by investors. This price zone would serve as an on-chain cushion for the Bitcoin price, as investors with their cost bases around the level are likely to defend their positions by acquiring more coins if the price falls toward the $95,000 – $99,000 zone.


Sentora mentioned that if the bulls do defend this support level, the Bitcoin price could be in for an extended rally. On the flip side, the on-chain firm asked investors to expect a surge in volatility if this support level fails to hold. Bitcoin Price At A Glance


As of this writing, the price of BTC sits just above $104,400, reflecting an almost 3% increase in the past 24 hours. Related Reading Traders Turn Bearish on Bitcoin Following High-Profile Political Tensions, Data Shows 21 hours ago The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView

News Feed

William Suberg12 hours agoBitcoin price posting best September since 2016 as BTC sellers eye $27.5KBitcoin remains on track to produce surprisingly solid September performance, but BTC price remains down over 11% in Q3.4
Dogecoin Weekly RSI Approaches The MA Line, Can Price Resume Uptrend To Break $0.74 ATH?
Este artículo también está disponible en español. Crypto analyst Master Kenobihas provided insights into the current Dogecoin price action. The analyst revealed that the
Ezra Reguerra1 hour agoLondon Stock Exchange to create traditional assets trading platform on blockchainThe LSE Group has been exploring how blockchain can improve traditional asset trading, according to an executive.699
Tezos Announces Major Upgrade to Improve Network Functionality
Tezos Announces Major Upgrade to Improve Network Functionality Open-source platform Tezos has just announced Edo, its fifth and most ambitious upgrade to its blo
US Real Estate in Jeopardy – Analysts Predict Housing Market Crash to 29-Year Lows
US Real Estate in Jeopardy - Analysts Predict Housing Market Crash to 29-Year Lows As the coronavirus outbreak ravages the global economy, a number of industries are taking a bit
Brayden Lindrea8 hours agoLido on Solana wind down ‘deemed a necessity’ after low fees, says staking firmUnsustainable financials and low fees generated by Lido on Solana were two of the main reasons for the sunsetti
Northern Data AG Acquires Bitcoin Miner Bitfield — 33,000 Miners Gained in Stock-for-Stock Deal
Northern Data AG Acquires Bitcoin Miner Bitfield — 33,000 Miners Gained in Stock-for-Stock Deal On Monday, the high-performance computing (HPC) infrastructure provider and bitcoi
No Room For Doubt: Analyst’s $900K Bitcoin Forecast Follows Familiar Script
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
US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation
US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation The chairman of a newly formed digital assets committee, U.S. Congressman Fr
Yield App Doubles Assets In Q3 As It Scores Big With Premier League Partnership
Yield App Doubles Assets In Q3 As It Scores Big With Premier League Partnership sponsored YIELD App, a FinTech company and digital asset wealth management platform, has published it
Christmas Festivities Unfurl at Bitcoin Games With 60,000 Free Spins Giveaway
Christmas Festivities Unfurl at Bitcoin Games With 60,000 Free Spins Giveaway Merry Christmas! Bitcoin Games celebrates 12 Days of Christmas with the biggest giv
Intel to Develop Crypto Mining Accelerators, Claims Circuits Will Deliver ‘1000x Better Performance per Watt’
Intel to Develop Crypto Mining Accelerators, Claims Circuits Will Deliver "1000x Better Performance per Watt" The California-based technology company and the world’s largest