As long as bearish sentiments are present in the market, BTC’s price may drop below $25,000, according to CryptoQuant analyst Baro Virtual. His analysis of BTC’s Coin Days Destroyed (CDD) on a 21-day moving average served as the foundation for his conclusion. When investors decide to sell their holdings, local distribution occurs, which results in a slight increase or decrease in price.
Abramchart, a CryptoQuant analyst, discovered a new support zone at 25619, which corresponds to the typical price paid by wallets for Bitcoin over the previous three to six months. Relative Strength Index (RSI) and Chaikin Money Flow (CMF), two momentum indicators for the coin, were also below their 50-neutral levels. This implies that there is greater selling pressure than buying pressure and that price declines frequently follow.
