Bitcoin Has Solid On-Chain Cushion Below $68,900: Stage Set For Fresh Rally?

Bitcoin Has Solid On-Chain Cushion Below $68,900: Stage Set For Fresh Rally?


On-chain data shows Bitcoin could have significant support between $66,900 and $68,900, which may help provide solid ground for a fresh surge to higher levels.

A Large Amount Of Investors Bought Their Bitcoin Between $66,900 & $68,900

According to data from the market intelligence platform IntoTheBlock, BTC is currently floating above a major demand zone. In on-chain analysis, the strength of any support or resistance level is based on how much “demand” was present at it.

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Below is a chart that shows the various Bitcoin price ranges near the current spot value and how they compare in terms of the total amount of the asset the investors purchased.

Here, the size of the dot correlates to the total number of tokens that were last

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