As per The Crypto Basic, Bitwise’s European head of research, André Dragosch, has identified a potential 'max pain' zone for Bitcoin between $73,000 and $84,000. This range aligns with the cost basis of BlackRock’s IBIT and MicroStrategy’s Bitcoin holdings. Dragosch suggests that this area could trigger investor stress and forced selling, especially as Bitcoin nears these key levels. Recent ETF outflows, including $523 million in single-day withdrawals from IBIT, and MicroStrategy’s net asset value dropping below 1, indicate growing market caution. The Federal Reserve’s uncertainty and delayed labor data further contribute to a cautious outlook. Meanwhile, stablecoin reserves have hit a record $72 billion, signaling potential liquidity ahead of a possible Bitcoin rally.
Bitwise Analyst Flags 'Max Pain' Area for Bitcoin Between $73K and $84K
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