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

Recently, the fluctuations in the price of Bitcoin (BTC) continue to attract the attention of investors. Ki Young Ju, the founder of CryptoQuant, has made an important assessment regarding Bitcoin, stating that the bear cycle can only be confirmed if the level of approximately 94 thousand dollars is lost.

Ju expressed that the average cost of investors who entered Bitcoin in the last 6-12 months is around 94 thousand dollars, emphasizing that this level has become a critical threshold for the market. He stated that if movement occurs below this level, he would consider that the market has indeed entered a bear cycle, saying, “In my opinion, I don't think the bear market is confirmed as long as we are not below 94 thousand dollars. I will avoid jumping to conclusions as long as we don't lose this level.”

It is known that in the markets, long-term investors have been making intense sales recently, ETF exits have accelerated, and market liquidity has weakened. Considering this situation, 94 thousand dollars stands out as both a cost region and a psychological support. Data from CryptoQuant also shows that this level has become a turning point for many investors in recent months.

Ki Young Ju believes that Bitcoin's reaction to the 94 thousand dollars level will determine the direction of the trend in the coming weeks. As long as it stays above 94 thousand dollars, a hopeful scenario is expected, while below it, a sharper correction could be on the agenda. Considering the volatile nature of the cryptocurrency markets, investors are now focused on Bitcoin's movements around 94 thousand dollars.

Ju's assessments once again remind investors that they need to act patiently and carefully. The 94 thousand dollars level is critically important for determining the direction of the Bitcoin market.