Bitcoin Near Key Support Levels as Sell-Off Accelerates
As Bitcoin [BTC] experiences a sharp sell-off, analysts are highlighting three crucial support levels that could determine its short-term path.
Swissblock Technologies identified $112,000 as a key level, noting that BTC could regain strength if the Risk Index remains stable. The index, which combines on-chain valuation and cost-basis data, hovered near zero on Monday, signaling optimism despite a 1.7% drop to $112,600, with intraday lows dipping to $111,717, according to CoinDesk.
Additional support levels include $110,000, described by Swissblock as a “lifeline,” and $111,400, the short-term holder cost basis tracked by Glassnode. Sustained trading below these levels could indicate a shift toward a bearish structure, making them critical zones for traders.
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