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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Bitcoin (BTC) Price Hits $31,000: Which Zone Is Critical If The Drop Starts?
The leading cryptocurrency Bitcoin (BTC) has increased by 15% in the last 7 days and hit $ 31,000 in the morning today.
The return and recovery of the BTC/USD pair after what has happened in recent weeks is definitely seen as an important development.
So, which support point can BTC hold in a possible drop?
What are the critical levels for BTC price?
Will BTC Price Fall?
Bitcoin price briefly pinned to $31,000, which is actually known to be a critical resistance throughout 2023. BTC, which has gained about 85% in value during the year, has great uncertainty here. The market in general is also uncertain, and macroeconomic factors are heavily influencing BTC. So, when these factors turn against BTC, which support is important and where should buying opportunities be observed?
Leading cryptocurrency analyst Michael van de Poppe shared an important post on the subject.
Poppe, who tweeted on June 24, stated that he would buy at $ 28,500 in a possible correction. Poppe, in the chart he drew, revealed that this was an important support and he underlined that he would buy from here.
So how can the analyst be so sure and sure that this rise of BTC is not a fake bull rally?
This BTC Rally Is Different!
Actually, there could be multiple reasons for this. BTC has received good news from many institutional giants in recent weeks. BTC maintains this position despite the securities lawsuits and industry shake-up, and institutional interest is increasing it.
Looking at the 1-day technical analysis data,
It seems that BTC is currently in a buy position.
Individual purchases triggered by the institutional rally have also turned the general market situation green and positive at the moment.
A possible pullback for the leading cryptocurrency could create stronger buying pressure. If the BTC price is pulled up to $ 28,500, the $ 32,000 level can be tested again with the dip from here. Of course, for this, macroeconomic factors also need to move in favor of BTC. This could mean a new rally for altcoins as well.
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