Bitcoin (BTC) is moving towards the key resistance level of $45,000 with its recent rises.
Analyst Gustavo Faria, who published an analysis based on data from the on-chain analytics platform CryptoQuant, commented on Bitcoin 45 thousand dollars level He stated that it was a turning point for medium-term investors.
Analyst, Bitcoin from 35 thousand dollars strictly for 42 thousand dollars critical with the rise to 45 thousand dollars He stated that it was rising correctly. According to the analyst, it is 45 thousand dollars level not only as technical resistance but also Also important for Bitcoin HODLers is a point.
45 thousand dollars 2-3 years ago Stating that it represents the costs of people investing in Bitcoin, Gustavo Faria said that this investor group What do you think about Bitcoin for the long term? and stated that they maintained their positions during declines.
Bitcoin’s current supply 16% have 2-3 years Emphasizing that it was held by investors, Faria said that almost of all active supply to medium-term investors He said he had it. He noted that this group can significantly influence market trends.
Because Bitcoin’s $45,000 level It is said to be very important for medium-term holders and represents a significant portion of the realized market value. If this level is permanently exceeded, the positive trend of the market will continue, but if it has difficulty in passing it. There may be selling pressure emphasized.
Analyst, 2-3 year old Bitcoins Monitoring their entry into the stock market would be crucial to predicting a potential move expressed.
According to CoinGecko data, Bitcoin, at the time of writing from $41,670 is being traded.
