PANews reported on November 18th that Axel Adler Jr., an analyst at cryptocurrency analytics firm CryptoQuant, clearly pointed out that the market is currently at a crossroads, and the direction in the coming weeks will depend on whether it can hold three key "lifelines." He warned that these three key price levels are $87,000 for "fair value," $79,000 for "average holding cost of US ETFs," and $74,000 for "the lower limit of the short-term trading range." Holding these levels means the current pullback may just be a deep "shakeout" within a bull market; however, a breach, especially a drop below $87,000 for fair value, would dramatically increase market risk, potentially signaling a deeper correction or even the start of a bear market.PANews reported on November 18th that Axel Adler Jr., an analyst at cryptocurrency analytics firm CryptoQuant, clearly pointed out that the market is currently at a crossroads, and the direction in the coming weeks will depend on whether it can hold three key "lifelines." He warned that these three key price levels are $87,000 for "fair value," $79,000 for "average holding cost of US ETFs," and $74,000 for "the lower limit of the short-term trading range." Holding these levels means the current pullback may just be a deep "shakeout" within a bull market; however, a breach, especially a drop below $87,000 for fair value, would dramatically increase market risk, potentially signaling a deeper correction or even the start of a bear market.
CryptoQuant: Bitcoin needs to hold its fair value of $87,000, ETF holding cost of $79,000, and volatility floor of $74,000.
PANews reported on November 18th that Axel Adler Jr., an analyst at cryptocurrency analytics firm CryptoQuant, clearly pointed out that the market is currently at a crossroads, and the direction in the coming weeks will depend on whether it can hold three key "lifelines." He warned that these three key price levels are $87,000 for "fair value," $79,000 for "average holding cost of US ETFs," and $74,000 for "the lower limit of the short-term trading range." Holding these levels means the current pullback may just be a deep "shakeout" within a bull market; however, a breach, especially a drop below $87,000 for fair value, would dramatically increase market risk, potentially signaling a deeper correction or even the start of a bear market.
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