Bitcoin may fall to $26k if it loses this support level, says expert
With Bitcoin (BTC) price hanging around the $44,000 zone and trading sideways for the past few days, investors are wondering whether the trend could change in the near future, particularly amid the looming possibility of an approval of the first spot Bitcoin exchange-traded fund (ETF). As it happens, Bitcoin is looking at one of the strongest support walls between $42,560 and $43,245, at which price traders purchased around 1.11 million BTC and have not sold them yet, according to the Analysis shared by cryptocurrency expert Ali Martinez in an X post on January 7. In line with the unspent transactions output (UTXO) realized price distribution (URPD) chart, Martinez opined that the flagship decentralized finance (DeFi) asset managing to hold above this strong support level would indicate a lack of “significant resistance ahead that will prevent it from advancing further.” On the other hand, Bitcoin failing to maintain its position above the said wall would potentially lead to “...