Bitcoin’s critical support levels are showing signs of weakness as on-chain data reveals a significant shift in cost basis clusters toward the $95,000 mark. Recent price action has put key support levels under increasing pressure, with Bitcoin currently trading at $83,120.
Key Support Levels Under Pressure
Glassnode data indicates that support at the $78,000 level is thinning considerably, with minimal cost basis clusters remaining. This development follows a strategic move by traders who accumulated approximately 15,000 BTC during the March 10 dip before taking profits at $87,000.
The strongest support zones have migrated upward, now concentrated between:
- $80,920 (20,000 BTC accumulated)
- $82,090 (50,000 BTC accumulated)
- $84,100 (40,000 BTC accumulated)
Strategic Accumulation Patterns
A deeper analysis of the market structure reveals that if current support levels fail, the next significant buffer zones appear at:
- $74,000 (49,000 BTC long-term holdings)
- $71,000 (41,000 BTC conviction buying)
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$95,000 Resistance Building
Perhaps most notably, a new resistance cluster is forming near $95,000, with an additional 12,000 BTC accumulating at this level since March 24. This suggests traders are positioning for potential profit-taking around this psychological barrier.
Long-term vs Short-term Holder Dynamics
The current market structure shows an interesting divergence between investor cohorts:
- Long-term holders (>150 days) are leading profit-taking activities
- Short-term traders (<155 days) are experiencing mounting losses
FAQ Section
What is the strongest support level for Bitcoin currently?
The strongest support cluster sits at $82,090, where approximately 50,000 BTC has been accumulated.
Where is the next major resistance level?
A significant resistance cluster is forming at $95,000, with 12,000 BTC accumulated since March 24.
What happens if Bitcoin breaks below $78,000?
The next major support levels would be at $74,000 and $71,000, where long-term conviction buying has occurred.