Bitcoin is on the verge of critical support at $ 85,000

The price of bitcoin BTC $87,282.75 Mezo Wrapped BTC -0.22% Market capitalization $38.73 million VOL. 24 hours $1.42 billion is once again under pressure after the latest decline, which pushed the asset to the lower end of the current trading range. As of the time of publication, BTC is holding just above the critical level of $ 85,000. Despite the risks of a further drop, the confidence of long-term investors is still holding back a deeper correction, providing the market with some stability.

According to Glassnode co-founder Raphael Schulze-Kraft, corporate bitcoin holdings continue to grow despite the price drop from highs of around $ 125,000. This indicates that large institutional holders are not conducting a massive sell-off. Although the shares of BTC-related companies are trading below their net asset value, corporate treasuries continue to accumulate, demonstrating confidence in the long-term potential of bitcoin.

The blockchain is undergoing changes in its market structure. The share of short-term holders (STH) in relation to long-term holders (LTH) has increased to 18.4%, exceeding the average of 16.9%. This means that the market has become more sensitive to fluctuations in capital flows, with short-term participants reacting more quickly to price changes, increasing volatility. At the same time, long-term investors remain a stabilizing factor, supporting the market during a downturn.

Bitcoin is currently trading near $ 86,580, slightly above the key support at $ 86,361. If the short-term selling pressure eases, BTC could recover to the $ 90,400 resistance zone, which would help to partially restore confidence after recent losses. However, the loss of the current support could open the way to a decline first to $ 84,700 and then to $ 82,500, which would significantly reduce the chances of recovery in the short term.