Bitcoin's support levels are critical, there is a possibility of a decline.

Bitcoin (BTC) investors are carefully monitoring the current market conditions. Recent movements in the Bitcoin price have increased investor interest, while important support levels are also critical. Data shared by Glassnode indicates that there is currently no clear signal of risk aversion. However, the possibility of the price descending further cannot be ignored if support levels are lost.

Recent analyses emphasize the need to maintain the critical cost band of 0.85 for Bitcoin. If this level is lost, it is possible for the Bitcoin price to decline to 104,500 dollars and even 97,000 dollars. This situation could affect investors' cost-based behaviors and potentially reverse the market's direction downwards.

Glassnode highlights that the 0.85 level stands out as a strong support area. As long as it remains above this level, selling pressure may be limited and the price could maintain its upward potential. However, Bitcoin's ability to hold in this region indicates that there is not yet a sense of panic in the overall market. Nonetheless, warnings are issued that the technical outlook could quickly weaken if it falls below this band.

In conclusion, there are critical levels that Bitcoin investors need to pay attention to. Maintaining the 0.85 band is crucial, and falling below this level could lead to deeper price declines. Investors should carefully monitor market movements and take necessary precautions.