Fun

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

News Feed - 2025-07-06 06:07:20

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. Bitcoin (BTC) prices showed a sideways movement in the past day producing no significant changes. Following the recent rejection at the $110,000 price range, the maiden cryptocurrency failed to break out of a descending consolidatory channel; therefore, fears on the current status of the bull market remain intact.


Amidst the current mood of uncertainty, prominent market analyst Ali Martinez has identified two important support levels in the advent of a price downturn. Related Reading Bitcoin Investor Sentiment Back To ‘Very Bullish’ — What This Means 1 day ago On-Chain Data Reveals Strong Bitcoin Support At $106,500 And $98,500


In an X post on July 5, Ali Martinez shares a potentially impactful on-chain insight on the Bitcoin market. Using data from the In/Out Money Around Price (IOMAP) Chart from Sentora, the analyst shares that major support zones have emerged that could play a crucial role in shaping the BTC’s short-term price direction.


The IOMAP chart analyzes Bitcoin wallet addresses and the average prices at which they acquired BTC, giving insights into potential zones of buying or selling pressure. Essentially, it shows where holders are currently in profit i.e. in the money” or at a loss i.e. out of the money. Source: @ali_charts on X


From the chart, it is observed that 1.68 million addresses bought 1.28 million BTC between $104,982 and $108,190, with an average acquisition price of $106,738. Historically, such large concentrations of buying activity tend to form strong support zones, as holders may defend their positions from slipping into loss. Therefore, this development makes the $106,700 range a formidable near-term support level.


A second significant support level is identified in the $95,247 to $98,566 range, where 1.7 million addresses acquired 1.25 million BTC at an average price of $96,901. Should Bitcoin lose its footing above $106,000, this lower range would act as the next major cushion, potentially absorbing downward momentum. However, a decisive price close below $96,901 would confirm significant bearish intent by the Bitcoin market. Related Reading Crypto Market Cap On Track To $4.5 Trillion As Q3 Unfolds – Details 1 day ago Bitcoin Market Overview


According to data from the IOMAP chart, around 89.36% of all BTC addresses are “in the money,” meaning their holdings were purchased at a lower price than the current market value. This is generally considered a bullish signal, suggesting the majority of market participants are in profit and thus less pressured to sell.


Meanwhile, only 10.36% of addresses are “out of the money,” highlighting the relatively low risk of widespread panic selling, unless Bitcoin were to break below these critical levels highlighted above.  At press time, the premier cryptocurrency continues to trade at $108,154 reflecting a 0.24% gain in the past day. Meanwhile, it’s daily trading volume is down by 27.09% and valued at $31.04 billion. BTC trading at $108,136 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from Pexels, chart from Tradingview

News Feed

Biggest Movers: BCH Climbs to 1-Week High, DOT Declines
Biggest Movers: BCH Climbs to 1-Week High, DOT Declines Bitcoin cash rose to a one-week high in today’s session, despite crypto markets mostly trading lower. The global cryp
Crypto Swap Platform LetsExchange Grew 100x in Less Than a Year
Crypto Swap Platform LetsExchange Grew 100x in Less Than a Year press release PRESS RELEASE. LetsExchange.io, an instant cryptocurrency exchange platform, reports the tremendous gro
Savannah Fortis11 hours agoAI music sending traditional industry into ‘panic,’ says new AI music platform CEOCan Ansay, founder of AI streaming and marketplace platform Musixy, says AI-generated music is revolutionar
XBOW automated AI hacker matches 20-year veteran pentester in 28 minutes
Martin Young2 hours agoXBOW automated AI hacker matches 20-year veteran pentester in 28 minutesAn AI-powered penetration tester solved 88 out of 104 benchmark tests in 28 minutes. It took the best pentester in the experi
Erdogan Suggests Turkish-Russian Payment System, Local Media Reports
Erdogan Suggests Turkish-Russian Payment System, Local Media Reports Turkish President Recep Tayyip Erdogan is reportedly pushing for Turkey and Russia to establish a new payment s
New FTX CEO Told Members of Congress SBF’s Family ‘Certainly Received Payments’ From the Business
New FTX CEO Told Members of Congress SBF"s Family "Certainly Received Payments" From the Business According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face s
Defi Project Yearn Finance Smashes Records as Native Token Surpasses $30K
Defi Project Yearn Finance Smashes Records as Native Token Surpasses $30KThe decentralized finance (defi) crypto asset tied to the Yearn Finance project has smashed records this wee
Derek Andersen5 hours agoSouth Korean Shinhan Bank completes stablecoin remittance pilot with Asian partnersThe bank used the Hedera network to settle payments in South Korean, Thai and Taiwanese currencies in real-time
3 Bitcoin ETFs Have Been Approved in North America
3 Bitcoin ETFs Have Been Approved in North America There are now three bitcoin exchange-traded funds (ETFs) in North America, all approved within the past month
Coming Soon, Time Raiders: The Greatest NFT Treasure Hunt of All Time
Coming Soon, Time Raiders: The Greatest NFT Treasure Hunt of All Time press release PRESS RELEASE. LONDON, February 15, 2022 – Independent video game studio and publisher Uto
North Korean cyberattacks on Brazilian fintech firms exposed
Arijit Sarkar13 hours agoNorth Korean cyberattacks on Brazilian fintech firms exposedGoogle Cloud’s report exposes North Korean cybercriminals targeting Brazil’s cryptocurrency and fintech sectors with sophisticated
Base and SOL memecoin market caps plummet 19% and 12% in 24 hours
Ciaran Lyons6 hours agoBase and SOL memecoin market caps plummet 19% and 12% in 24 hoursMati Greenspan suggests the memecoin market is crashing because the joke is over, while Charles Edwards points to memecoins sufferin