Bitcoin Trades Near Key Price Safety Net That BTC-Holder Strategy Already Breached
CoinDesk
Bitcoin is near its 100-week SMA support, but MicroStrategy shares have already broken below this key level, signaling potential downside risk.Summary
Bitcoin is currently trading near the 100-week simple moving average (SMA), a critical long-term support level that has held for three weeks after Bitcoin fell from its record highs above $126,000. This average acts as a technical safety net; a bounce could signal a bullish rebound, while a break below risks deeper losses. Critically, shares of MicroStrategy (MSTR), the largest publicly listed BTC holder, have already breached this 100-week SMA in November and have since fallen over 60% from their yearly high. Since MSTR previously led Bitcoin lower when it broke the 50-week SMA, its failure to hold the 100-week SMA suggests that BTC bulls must defend this level to avoid a similar, deeper decline.
(Source：CoinDesk)