On-chain data suggests the next major Bitcoin support level could be at $30,200 if the level pointed out by this analyst is lost.
Bitcoin Currently Has Support Levels At $36,400 And $34,300
In a new post on X, analyst Ali has discussed how the various support levels of BTC are looking like right now from an on-chain perspective. A level may be defined as support based on the amount of Bitcoin that was bought by the investors at said level.
Generally, whenever the price declines to the cost basis of an investor, they might become more likely to show some kind of move. Since the holder had last been in a state of profit, they might tend to believe that the asset would rise again