Analyst: $75,000 may be the current defense area for Bitcoin bulls

Odaily Planet Daily News: The market generally believes that any bearish trend caused by the unchanged Fed interest rate has been reflected in the Bitcoin price. Onchain analyst James Check pointed out that the real bottom of Bitcoin is at its real market average, that is, the average cost basis of active investors - about $65,000. The bears will try to defend the resistance level of $86,000, which increases the possibility of prices falling below $80,000 and hitting new lows. James Check added: "$75,000 may be the area where Bitcoin bulls defend in the current market. If the defense fails, the next step will be to return to the liquidation consolidation range to see how far it can go in the end." (Cointelegraph)