Bitcoin at $ 74,000? That would happen if a key support is broken

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By TP

In case of losing with a lot of volume the $ 92,000, Bitcoin would accelerate its fall. Macroeconomic issues have thrown Bitcoin down in recent days. The price of Bitcoin (BTC) faces a decisive test. According to analyst and trader Ali Martínez, the $ 92,000 area represents a fundamental support for the cryptoactive. If this level It is lost with a high volume of operations, the following objective could be at $ 74,400Martínez explained through his account in X. The price bands of MVRV point out that $ 92,180 constitute a key supportaccording to what was stated by the Trader. The graph shows the evolution of the price of Bitcoin over time, along with a series of bands that represent different levels of deviation of the value carried out (performed Price). These bands are defined by multiples of standard deviations (+1.00, +0.50, -0.50, -1.00) with respect to the value performed.

USD 92,180 constitute a key support for Bitcoin. Source: Glassnode / Ali Martínez. The deviation bands They show how the price of Bitcoin has moved in relation to its value done over time. This metric compares the Bitcoin market value with its value done and offers a perspective on its overvaluation or undervaluation. An elevated MVRV suggests that the market price could be overestimated in relation to the total value of all coins in circulation.

Impact of macroeconomic volatility

In recent days, macroeconomic factors have promoted high volatility in Bitcoin. The currency fell to $ 92,000 yesterday, before recovering land up to $ 102,000. However, he descended below $ 99,000 in the current day, as can be seen in the following tradingview.

BTC price. Source: TrainingView. Among the events that have affected Bitcoin are the tariff measures announced by the United States: 25% about imported products from Mexico and Canada, and 10% on Chinese goods. Although President Donald Trump reached an agreement with Mexico and Canada to suspend tariffs for a month, China responded with the imposition of additional rates to American products from February 10, as Cryptonoticias reported. While Bitcoin is not directly linked to the commercial war, Its correlation with traditional financial markets has generated abrupt movements in its price. Investors who receive an increase in market risk have chosen to withdraw their volatile asset capital, such as Bitcoin, and transfer it to shelters considered safer.

Future perspectives

Beyond the immediate impact of the macroeconomic situation, Bitcoin remains an asset with their own foundations. Its scheduled shortage, the growing institutional adoption and the interest of the states in their use They could sustain their long -term growth. The next test for the market will be to determine if the $ 92,000 remains as a firm support or if the currency is heading around $ 74,000.