Analysts 'key support level around $78,000 is still Bitcoin's key support level. If it breaks through $85,000 or rises rapidly to $95,000

CoinDesk analyst James VanStraten posted that nearly 15% of Bitcoin supply is currently concentrated near the 200-day moving average, which is about US$83,000 to US$85,000. It believes that if Bitcoin breaks through US$85,000, it may quickly rise to US$95,000. In addition, the real market average (TMM) and short-term holder cost base still form key support around approximately $78,000.