BTC, $83,700 Support level-$91,500 Resistance level box range movement outlook

Analysis has emerged that Bitcoin is currently moving between two key price ranges, seeking direction. CrazyBlock, an on-chain analyst who contributed to CryptoQuant, stated, "Bitcoin's major support line is $83,700, and the major resistance line is $91,500."

$83,700 is the average purchase price for investors entering within 1~3 months and serves as a turning point for short-term trend changes. If this range breaks, selling sentiment may spread. On the other hand, $91,500 is the average realized price range for short-term holders holding Bitcoin for about 6 months. If this price range is breached, short-term holders' selling pressure may ease, providing a foothold for a new rally.

CrazyBlock added, "Short-term holders tend to react sensitively to market trends, and their breakthrough of realized prices can significantly stimulate investment sentiment." Bitcoin is currently forming a box range market between the two ranges, and buy-sell strategies within this range are expected to be key.