Citing Criptonoticias, bitcoin is approaching key support levels at $88,000 and $72,000 if the current downtrend continues. The price drop below $99,000 marks a turning point, testing supports built during the bullish cycle. According to TradingView and Glassnode data, BTC failed to hold above the short-term holders' cost base of $113,100, signaling weakening demand and a higher risk of a prolonged bearish phase. CryptoQuant identifies a 'highly bearish' environment, with massive liquidations, declining spot demand, and reduced stablecoin liquidity. Long-term holders have sold 815,000 BTC in the last 30 days, intensifying selling pressure. Analysts warn that without a sustained demand recovery, the market remains in a correction phase.
Bitcoin Faces Key Support Levels at $88,000 and $72,000 Amid Downtrend
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