- Bitcoin slipped below $96,000 during Thursday’s U.S. trading open as markets reacted to easing Middle East tensions.
- Price hit a low of $95,563, according to TradingView.
- Bulls must defend the $94,000 region, while the 200-day EMA sits near $99,555 and a bull support band is around $101,000.
- Short-term holders moved about 40,000 BTC to exchanges in 24 hours, with roughly 37,800 BTC sent in profit, per CryptoQuant.
- Aggregate cost-basis data from Axel Adler Jr. places short-term holders’ average entry near $99,600.
On Thursday’s Wall Street open, Bitcoin sold off as traders reacted to reports that tensions between the U.S. and Iran were easing. Data from TradingView showed BTC/USD falling to $95,563 on Bitstamp during the decline. A social post from The Kobeissi Letter reported: “BREAKING: President Trump has told Iran he does not want war and will not launch an attack, according to Iran’s ambassador to Pakistan.”
Market participants pointed to key support and resistance levels as the intraday correction unfolded. Daan Crypto Trades wrote that it was “Critical for the bulls to hold the $94K region going forward. Any moves back down that level would not make for a pretty look.” He also noted the next technical level was the daily 200 EMA at about $99,555 and referenced its role in November’s price action: “From here on out, the Daily 200EMA is next up. That one rejected price back in November right before the large drop.”
Onchain data showed profit-taking by newer investors. Analysis from CryptoQuant reported that short-term holders moved roughly 40,000 BTC to exchanges within 24 hours, about 37,800 BTC of which was in profit. Contributor Darkfost wrote: “STHs remain clearly impacted by the recent correction, and it seems that more upside and stronger confirmation will be needed to rebuild confidence and generate enough unrealized profits to encourage them to hold rather than sell.”
Aggregate cost-basis data from Axel Adler Jr. put the short-term cohort’s average entry near $99,600, highlighting that area as a possible resistance level if price moves higher. Market participants are watching the $94,000 to $101,000 area for signs of the next directional move.
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