Yesterday, crypto analyst Matthew Hyland indicated Bitcoin (BTC) may test the $69,000-$74,000 support range in the coming months, according to an X post. Hyland noted a weekly resistance level of $90,500, suggesting a weekly close above $89,000 could signal a market bottom. Bitcoin last traded above $89,000 on March 9, before falling to $76,606 on March 10, based on Binance data. It has since recovered to the low $80,000s.
A recent CryptoQuant post highlighted the significance of short-term holder (STH) Realized Price. The weighted average Realized Price for STHs (one to six months) is around $91,800, while the three to six-month STH cohort has a Realized Price of $86,100, indicating a short-term resistance level. Long-term holders (LTH) with a six to twelve-month holding time have a Realized Price of $63,700, with a high volume profile around $64,000 suggesting a strong support level. Currently, BTC trades at $81,745, up 0.7% in the past 24 hours.