Critical Level for Bitcoin: $94,000 Should Be Tested

Recently, the price fluctuations of Bitcoin (BTC) continue to attract the attention of investors. CryptoQuant founder Ki Young Ju made an important assessment for Bitcoin, stating that the bear cycle would only be confirmed if the level of approximately $94,000 is lost.

Ju noted that the average cost for investors who entered Bitcoin in the last 6-12 months is around $94,000, emphasizing that this level has become a critical threshold for the market. He mentioned that if there is a movement below this level, it could be considered that the market has indeed entered a bear cycle. “In my opinion, as long as we do not go below $94,000, I do not think the bear market has been confirmed. I will avoid jumping to hasty conclusions as long as we do not lose this level,” he stated.

It is known that in the markets, long-term investors have been carrying out intense sales recently, ETF outflows have accelerated, and market liquidity has weakened. In this context, $94,000 stands out as both a cost region and a psychological support. CryptoQuant's data also shows that in recent months, this level has become a turning point for many investors.

CryptoQuant founder Ki Young Ju believes that Bitcoin's reaction to the $94,000 level will determine the direction of the trend in the coming weeks. While a hopeful scenario is expected as long as the price remains above $94,000, a sharper correction could arise if it falls below this level. Considering the volatile nature of the cryptocurrency markets, investors are now focused on Bitcoin’s movements around $94,000.

Ju's assessments remind investors that they need to be patient and cautious. The $94,000 level is critically important for determining the direction of the Bitcoin market.