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05/06/26 05:58 UTC-04

Selling Pressure on Bitcoin Is Increasing! Here Are the Next Key Support Levels, According to Analysts!

The sharp decline in the cryptocurrency market in recent days has once again drawn attention to Bitcoin’s critical support levels. Axel Adler Jr., an analyst at the CryptoQuant data platform, noted in his assessment of Bitcoin’s current outlook that selling pressure is steadily increasing.

According to the analyst, Bitcoin is currently approaching the lows recorded in February, around the $62,000 mark. Looking at the data from the past seven days, net losses have reached $7 billion. This figure exceeds the losses recorded at the February lows but remains below the $14 billion peak observed last winter, during a period described as a “capitulation period” in the markets.

Adler points to a key difference that sets the current market cycle apart from previous corrections. While in previous downturns selling pressure generally weakened as prices approached lows, this time the opposite has happened: selling pressure has intensified as prices have fallen. This is viewed as an important signal pointing to a continued deterioration in investor sentiment.

According to analysts’ data, Bitcoin’s price has fallen below roughly $76,000, which is the average cost basis for short-term investors. This indicates that a significant share of short-term investors has moved into loss territory.

There are currently two key support levels in the market. The first is around $54,000, which is considered the average lower cost-basis level for the entire network. The second support point is the $49,000 area, where the average cost basis of long-term investors is located.

According to Adler, as long as Bitcoin remains above the $54,000 level, the market has not yet entered the capitulation phase. However, he notes that if the price falls below the February lows, selling pressure may increase, pushing Bitcoin back towards the $54,000 level, which is tied to the network value. Therefore, the analyst defines $54,000 as the last critically important line of defence for bulls.

See also: "Peter Brandt Warns Bitcoin May Continue to Fall as October Becomes a Key Period"

#Bitcoin (BTC) #Key Support Level

Editor: Pereyidenko Ihor
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