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Bitcoin (BTC) is treading a fine line between $82,000 and $87,000, and analysts believe a decisive move is imminent. As traders watch closely, recent market data and technical indicators suggest that the next few days could be critical in determining BTC’s short-term direction.
A report shared by blockchain analytics firm Glassnode on April 1 revealed that most investors who entered the market after 2020 are still holding their Bitcoin, despite recent volatility. Although there was a slight 3% decline in holdings since November 2024—suggesting minor profit-taking—the overall sentiment among newer investors remains strong.
In contrast, long-term holders who entered between 2018 and 2020 have significantly exited the market. Over two-thirds of these early adopters sold their positions by December 2024, pointing to a broader trend of profit realization as Bitcoin approached historic highs.
Analyst Insights: The Price Levels That Matter
At the time of writing, Bitcoin is trading at $84,734, showing modest daily gains. But the real question is whether BTC can escape its current consolidation zone and enter a new bullish phase.
Prominent crypto analyst Michael van de Poppe described the $82K–$87K range as “noise,” emphasizing that a clear breakout above $87,000 could trigger a strong upward rally. However, a drop below $82,000 could signal weakness and lead to a retest of lower support zones.
Technical analyst Ali Martinez added that Bitcoin is currently battling two major resistance levels: the 200-day moving average at $86,200 and the 50-day moving average at $88,300. According to Martinez, unless BTC breaks above both these thresholds, it may struggle to gain bullish momentum. He highlighted that crossing these key moving averages could hand control back to the bulls.
What Should Traders Monitor Now?
Market experts suggest that Bitcoin’s ability to hold above $82,000 and break past $88,300 will be the deciding factor in whether it can reclaim its bullish narrative. If resistance gives way, a fresh rally could unfold—possibly marking the start of a new upward trend.
For short-term positioning, traders are urged to keep a close eye on the $86,200–$88,300 resistance zone. As noted by Turkish NY Radio, these levels may serve as the launchpad for Bitcoin’s next major move if bulls can sustain buying pressure.
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