NEWSLETTER
Reason to trust
Strict editorial policy that focuses on precision, relevance and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reports and publications
Strict editorial policy that focuses on precision, relevance and impartiality
Leon football price and some soft players. Each Arcu Lorem, Ultrices any child or ullamcorper football hate.
This article is also available in Spanish.
The price of bitcoin made one of its strongest actions in recent times during the past week, exceeding $ 88,000 from the beginning. However, the main cryptocurrency experienced a strong correction on Friday, March 28, after the latest inflation data of the February core.
With the price of btc now around under $ 84,000, panic seems to be growing in the market as investors fear greater correction for the largest cryptocurrency in the world. Interestingly, the latest data in the chain show critical support levels for the price of bitcoin.
Is btc at risk of a drop at $ 71,000?
In a recent publication on platform x, the Blockchain Glassnode analysis firm <a target="_blank" href="https://x.com/glassnode/status/1905622055879315771″ target=”_blank” rel=”nofollow”>explained The recent behavior of investors and how could affect the price of bitcoin in the next few days. This evaluation is based on the distribution data of the investor costs around the price of bitcoin.
Related reading
According to Glassnode, the distribution data of the cost base reflects bitcoin's total supply held by the addresses with an average cost base within specific price cubes. As seen in the table below, the heat map (color intensity) represents the magnitude of the supply of btc in a price zone.<img decoding="async" style="font-weight: 600;text-align: center" src="https://technicalterrence.com/wp-content/uploads/2025/03/Bitcoin39s-price-slides-below-84000-key-support-levels-to.jpeg" alt="bitcoin price” width=”1084″ height=”650″ loading=”lazy”/>
Source: @glassnode on xGlassnode data shows that a significant percentage of merchants bought approximately 15,000 btc at the level of $ 78,000 on March 10 before selling at the recent local top of $ 87,000. After this last redistribution round, the supply of btc at the level of $ 78,000 is now thin, weakening the support cushion.
However, it is worth noting that the next levels of crucial support are around $ 84,100, $ 82,090 and $ 80,920, where investors bought 40,000 btc, 50,000 btc and 20,000 btc, respectively. However, the price of bitcoin could be at risk of deep correction if it loses these levels.
In case of a deeper correction, $ 78,000 may not offer a strong enough cushion for the badly cryptocurrency after the recent sale of investors that have previously owned at the level. Glassnode data shows that bitcoin's price could fall to $ 74,000, the next significant support level after $ 80,000.
The chain analysis platform highlighted $ 74,000 (where investors bought 49,000 btc) and $ 71,000 (where investors bought 41,000 btc) as the next support levels in case the price of bitcoin falls below $ 80,000. “These levels reflect accumulation zones driven by the conviction that could absorb the pressure of additional inconvenience,” Glassnode added.
bitcoin price at a glance
At the time of writing this article, the price of bitcoin is around $ 83,800, which reflects a decrease of almost 4% in the last 24 hours.
Related reading
Istock's prominent image, TrainingView graphics
(Tagstotranslate) bitcoin (T) bitcoin Price (T) btc (T) BTCUSDT (T) Glassnode
