While the price of Bitcoin (BTC) manages to find support at a critical level, details in on-chain data are drawing attention.
Bitcoin, which has been on a downward trend for about 1 week, managed to find support at the critical level indicated by on-chain data, which is 61 thousand dollars.
The buying appetite at the $61,000 level has been very strong, and this level also took on a critical role in previous periods. According to on-chain data, approximately 805 thousand addresses clustered around the 61 thousand dollar level with 466 thousand Bitcoins, once again revealing the importance of this price.
While 56 thousand dollars is seen as the first strong support below 61 thousand dollars for Bitcoin, the 67 thousand dollar level is important in terms of selling pressure.
Experts believe that with the announcement of the interest rate data by the US Federal Reserve (FED) today, some of the dark clouds over the cryptocurrency market will dissipate and upward movements could return.
According to CoinGecko data, Bitcoin, which fell to 60,900 dollars in the early hours of March 20, managed to rise to 63 thousand dollars thanks to the reaction it received from the critical area.
