Bitcoin\u2019s price has lost its momentum and has retraced by several grand in the past day or so, but it\u2019s still above a key support level.<\/p>\n
Ali Martinez, the popular crypto analyst with almost 120,000 followers on X, noted that the bull run is still intact as long as the cryptocurrency remains above $98,000.<\/p>\n
The primary cryptocurrency experienced massive volatility at the start of the week, as it plunged<\/a> by over $6,000 on Monday morning to under $100,000 before it exploded<\/a> out of the gate to a new all-time high above $109,000.<\/p>\n This all transpired ahead of Donald Trump\u2019s inauguration, and when that arrived, BTC slumped, as he had failed to mention<\/a> the industry even once. Nevertheless, the $100,000 support held and bitcoin bounced off toward $107,000.<\/p>\n However, the bears stopped the asset\u2019s ascent at that point and pushed it south by a few grand in the past day. Just a few hours ago, the cryptocurrency tested $104,000 but has remained above it.<\/p>\n Despite this $3,000 price drop in a day, BTC\u2019s bull run will continue as long as it remains above $98,000, said Martinez. He outlined that level as particularly important for the asset due to the massive accumulation point it has become.<\/p>\n More than 101,000 BTC (valued at $10.5B at today\u2019s prices) were purchased at around that line, which turned it into a \u2018crucial\u2019 support. Typically, investors, especially those who have arrived at the scene more recently, tend to dispose of their holdings if they see the price tumble below their entry level.<\/p>\n The key support level for #Bitcoin<\/a> is at $97,877, where more than 101,000 $BTC<\/a> were accumulated. Holding above this level is crucial to sustaining the bullish momentum. pic.twitter.com\/4kMR5ZtkWa<\/a><\/p>\n \u2014 Ali (@ali_charts) January 25, 2025<\/a><\/p>\n\n The post $3K Bitcoin Price Drop: What Level It Must Hold to Stay Bullish<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s price has lost its momentum and has retraced by several grand in the past day or so, but it\u2019s still above a key support level. Ali Martinez, the popular crypto analyst with almost 120,000 followers on X, noted that the bull run is still intact as long as the cryptocurrency remains above $98,000. The […]<\/p>\n","protected":false},"author":0,"featured_media":38933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38932"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38932"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38933"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}