Bitcoin’s $97K Support: Hold or Fold? 🤑💔

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Oh, looky here! Bitcoin‘s back to playing limbo with the $100k mark after a 2.22% dip. It’s like a yo-yo on steroids, bouncing back from $99,200. Intense volatility? More like intense therapy session for your nerves.

But wait, crypto wizard Ali Martinez waves his magic wand and points to $97,190 as the line in the sand. Cross it, and the bull market might as well be a bull in a china shop. Everyone’s still got their pom-poms out, though, cheering for the upward hustle.

According to the crystal ball of IntoTheBlock, 73% of Bitcoin’s addresses are in the green. About 1.45 million of them are chilling between $95,727 and $98,719, averaging out at $97,190. If Bitcoin dips below this, we’re talking a sea of red and a lot of “Oh, crap!” moments.

And if Bitcoin does a swan dive below $97,190? Hold onto your butts, it’s gonna be a bumpy ride. Panic selling, cascading effects, and a whole lot of “Should’ve sold at the top” memes.

Image From X: Ali_charts (because who else would it be?)

But hey, it’s not all doom and gloom! Binance Futures data is like a beacon of hope in the crypto storm. Most traders are still Team Bullish, holding onto their “To the moon!” flags.

Coinglass says 60.94% of Binance traders are like, “Bitcoin, you got this!” And Martinez? He’s seeing a buy signal from the TD Sequential indicator. Could be the start of something beautiful, or just another tease. We’ll see.

As I’m typing this, Bitcoin’s at $99,403. Down 2.35% in the past 24 hours. Keep those antacids handy, folks.

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2025-02-02 22:35