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Bitcoin Price Stuck In A Loop? Here’s Why $87,000 Could Be Crucial

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Bitcoin Price Stuck In A Loop? Here’s Why $87,000 Could Be Crucial - NewsBTC

Quick Summary:

After falling to just above $81,000 on Tuesday, March 18, the flagship cryptocurrency pushed for the $87,000 mark before facing a significant level.  Below is why the $87,000 level could prove pivotal to the long-term health of the Bitcoin price.5.58 Million BTC Addresses ‘Sitting On A Hot Potato’ In a March 21 post on the X platform, popular crypto analyst Maartunn discussed the significance of $87,000 as a crucial level for the future trajectory of the Bitcoin price.

Typically, this $87,867 – $106,839 region serves as a crucial resistance area, as investors are likely to sell their assets should the Bitcoin price return to their cost basis.

Related Reading: Ethereum Price Forms Megaphone Bottom Not Seen Since 2020, Here’s What Happened Last Time Cost-basis analysis involves evaluating the capacity of a price level to act as either resistance or support based on the total amount of coins purchased in or around it.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-22 @ 16:30:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 27242328

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About NewsBTC

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 3 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 15 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #102

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