Bitcoin Eyes $97K as Nearest Support Cluster
- Bitcoin’s current key support is at $97K-$94K.
- Experts monitor financial shifts and ETF flows.
- Institutional participation continues despite market volatility.
Market Analysis
Key market figures have been analyzing Bitcoin’s trajectory, with the $97K-$94K range highlighted as crucial support. Although not officially declared in CEO statements, analysts outline this level’s significance due to past market behavior. US spot Bitcoin ETF flows are also to be carefully monitored, with BlackRock’s continued participation reinforcing this trend.
Institutional Activity
Recent activity around Bitcoin suggests notable institutional flows and price testing, prompting experts to consider these price levels as vital for future price action. Rates and statements from figures like Jerome Powell have indirectly influenced volatility, impacting these levels.
Impact on the Crypto Market
Bitcoin’s trajectory impacts broader crypto market and investor sentiment as support zones are approached, often triggering liquidity shifts within exchanges. The financial market’s state remains uncertain amid ETF inflows and outflows, contributing to Bitcoin’s stressed price points.
On-chain Observations
Observations of on-chain data indicate cyclical liquidity movements at current support levels, often driven by external factors such as economic policy decisions. Historical analysis shows prior $90K-level holds, making it a key buying opportunity zone should retests occur.
“The red line at $92k was support for three months—between Nov 2024 and Feb 2025—so it is another important level to watch.” – Technical Analyst, Exchange Blog
