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Author: Admin | 2025-04-28
Holders, which could have an impact on Bitcoin’s price in the near term.Martinez also revealed that Bitcoin needs to watch a key support zone of $97,530. Holding above this level is important in maintaining the current bullish momentum.Bitcoin Not Yet Overbought?Glassnode’s analysis of the Mayer Multiple – the oscillator that compares Bitcoin’s price to its 200-day moving average (200DMA) – provided some relief for now. Historically, a Mayer Multiple above 2.4 signals overbought conditions, while a value below 0.8 indicates oversold levels.Currently, Bitcoin’s Mayer Multiple sits at 1.37. This suggests that the price of Bitcoin, while above the 200DMA, remains well within neutral territory and far from the overbought threshold of ~$181K. This positioning implies that Bitcoin may still have room for upward movement before it hits a new peak.SPECIAL OFFER (Sponsored)Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
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