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CryptoQuant: If Bitcoin's closing price breaks through the range of 109,000 to 112,000 this week, it is expected to strengthen the pump trend.
According to ChainCatcher news and analysis by CryptoQuant analyst burakkesmeci, short-term Bitcoin holders (holding time less than 155 days) have a significant impact on market sentiment, and their confidence often attracts new funds into the market. Currently, Bitcoin is at a critical turning point in the range of 109K to 112K. If the closing price this week can break through this area, it is expected to strengthen the upward trend; conversely, if it falls below this range, it may accelerate the pullback. In the short term, 117.3K is the resistance level, 112K is the decision point, while 92.4K is the support level. In addition, the realized price for short-term holders is 108.9K.