Key Bitcoin Levels to Watch, According to Top Crypto Analyst

These insights are essential for both traders and long-term investors as Bitcoin continues to hover near the $97,000 mark.According to the data, Bitcoin currently faces key resistance at $97,600. This level is significant because a high concentration of addresses—representing holders who bought BTC near that price—are either waiting to break even or are likely to sell for profit, which can suppress upward momentum.On the flip side, strong support zones have emerged at $93,700 and $82,000. These levels represent clusters of buy-in activity, meaning that a large number of addresses acquired Bitcoin around these price points. For example, over 2.13 million addresses purchased BTC between approximately $93,689 and $96,698, accumulating a combined 750.8k BTC. This area now acts as a support cushion, as these holders are likely to defend their positions.Another notable support lies between $82,052 and $85,043, where 1.47 million addresses hold roughly 624.8k BTC. If the price drops toward this level, it may see strong buying pressure that can prevent further downside.The IOMAP data also shows that 66.55% of Bitcoin holders are currently “in the money,” having bought BTC at a price below the current level, while 32.20% are “out of the money,” holding BTC at a loss. Only a small portion—just 1.25%—are at the money, meaning they bought at roughly the current price. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Bitcoin Price Poised for a Breakout, According to Important Indicator This clustering of on-chain activity near support levels may provide some price stability, while the concentrated resistance above could present a short-term hurdle for further upside. Traders and analysts alike will be watching these zones closely in the days ahead.The post Key Bitcoin Levels to Watch, According to Top Crypto Analyst appeared first on Coindoo.