Bitcoin's market is at a pivotal juncture as it approaches the True Market Mean (TMM) support level of $81,500. This level, identified by CryptoQuant, represents the cost basis of active coins and is crucial for maintaining bullish momentum. A breach below this could signal a deeper bear market, as seen in past cycles.
Adding to market tensions, Matrixport has transferred 4,000 BTC, valued at approximately $348 million, to Binance, raising concerns of a potential sell-off. Such large movements often precede significant market shifts, with analysts warning of possible price declines if the $81,500 support fails to hold.
Bitcoin Faces Critical Support Test as $348M BTC Moves to Binance
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