Bitcoin fell below $96,000 on Thursday morning during U.S. trading, sliding to about $95,563 on Bitstamp as reports said Middle East tensions were easing and traders sold into gains. Trading data (according to TradingView) showed the move came at the Wall Street open.
Stocks and precious metals rose on the de-escalation, while oil and BTC diverged from that strength, according to breaking social reports (reports).
Bulls now watch nearby supports closely with several trendlines aligned near the $100,000 region. Daan Crypto Trades warned that “Critical for the bulls to hold the $94K region going forward. Any moves back down that level would not make for a pretty look,” and pointed to the Daily 200 EMA at about $99,555 as the next test.
Onchain data showed short-term holders moved large amounts to exchanges as price reached two-month highs, with 40,000 BTC sent within 24 hours and roughly 37,800 BTC moved in profit (see the Quicktake). (Ed. note: this indicates notable profit-taking by recent buyers.) Aggregate cost-basis figures placed short-term holders near $99,600, according to cost-basis data.
Market participants will watch whether buyers can reclaim the $100,000 zone and hold the $94,000 support during the coming sessions.
