Critical Bitcoin Price Points That Could Trigger Major Market Moves

Crypto analysis firm MarktQuant has identified key price levels that will play a crucial role in Bitcoin’s next moves, drawing attention to both resistance and support zones that investors should watch closely.

One of the primary hurdles Bitcoin faces is the resistance at $98,400. This level is pivotal for maintaining the bullish trend; if Bitcoin fails to break through it, a downward correction could occur, potentially pushing the price to the $90,000-$92,000 range for testing support. As of now, Bitcoin is trading just below $98,000 at $97,500.

Should a pullback occur, MarktQuant anticipates buying interest to resurface around the $90,000-$92,000 range. This zone is particularly important for futures traders who are leveraging positions, with many setting stop-loss orders here. The firm suggests that a dip into this area could trigger a 6.5% drop in Bitcoin’s price, which might lead to liquidation events and heightened market volatility.

Additionally, MarktQuant’s analysis points out areas of heavy liquidation clusters, particularly between $94,000 and $96,000. These regions, where leveraged long positions are concentrated, are seen as key points where price movements could accelerate, attracting further volatility as Bitcoin approaches these levels.