Bitcoin In The Middle Of A Decision Point, Analyst Says—Here’s Why
Bitcoin is at a critical decision point based on its supply cost basis distribution, according to on-chain analysis. The UTXO Realized Price Distribution (URPD) indicates significant portions of Bitcoin's supply were purchased at current trading levels, with two major supply clusters identified. Bitcoin's price is currently between these clusters, affecting the profit-loss status of many investors. Large supply walls below the current price may provide support, while levels above could act as resistance. A recent pullback has positioned Bitcoin closer to the green supply zone, which may prevent further declines. The asset is also near a macro on-chain support level at $93,364, historically significant for trend direction. Bitcoin's price is approximately $94,000, reflecting a 1.5% decrease in the last 24 hours.
