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Is the bitcoin price $97,000 or $64,000? The distribution of the underlying price says .
The distribution chart of the bitcoin [BTC] underlying price highlights two key levels: strong resistance at $97,828 and important support at $64,078. About 360,470 BTC has accumulated at the resistance level, creating a significant psychological and technical barrier.
Historically, prices have struggled to overcome these high accumulation density zones unless there is a surge in demand or a strong catalyst. A bull cycle or a surge in #ETF inflows could also trigger the aforementioned breakout. Conversely, the support level at $64,078 is holding at 194,530 #BTC , indicating that this is a key area where buyers have historically entered the fray to prevent further declines. According to price structure, #bitcoin has risen from $55,000 in September 2024 to peak above $108,000 in early 2025, showing strong momentum in the process. strong buying momentum in the range of $60000 to just under $75,000. indicating that many investors have been buying BTC in this range. The cryptocurrency's recent pullback from highs near $100,000 has brought BTC back to the upper boundary of this support zone. if bitcoin fails to recover $97,000, it will correct further to $75,000 before retesting the $64,000 zone. Risks. A break below this level would confirm the potential for further declines, and BTC could fall to $BTC Conversely, a strong break above $97,000 could trigger a resumption of the uptrend to new highs above $BTC Where will BTC attack first? Further analysis shows that bitcoin's historical trend has often found support at the 50-week moving average, which is currently at $74,700. Indeed, in each cycle, BTC has tested the MA after a strong rally and then continued its upward trajectory. For example, bitcoin approached this moving average in 2015, 2019, and 2021, which in each case resulted in a significant price bounce. At the time of writing, BTC has retreated from its recent highs near $97,000 and is heading towards the $74,700 support zone. Despite recent recovery attempts;
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