Bitcoin's market trajectory hinges on maintaining three critical price levels, according to CryptoQuant analyst Axel Adler Jr. As reported on November 18th, Adler emphasized that Bitcoin must hold its fair value at $87,000, the average holding cost of US ETFs at $79,000, and a volatility floor at $74,000. These levels are seen as essential "lifelines" for the cryptocurrency's current market position. Adler warned that failing to maintain these thresholds, particularly the $87,000 fair value, could significantly heighten market risk, potentially leading to a deeper correction or the onset of a bear market. Conversely, sustaining these levels might indicate that the current downturn is merely a "shakeout" within an ongoing bull market.