Bitcoin Holds Above $90K – On-Chain Data Reveals Key Demand Levels

Bitcoin recently experienced a 9% pullback from its all-time high of $99,800, but has since recovered and is climbing back towards key resistance levels. Despite the volatility, Bitcoin's long-term bullish structure remains intact, with market sentiment leaning optimistic. Top analyst Axel Adler provided on-chain insights suggesting that strong demand for Bitcoin persists at current levels, with investors viewing pullbacks as opportunities to accumulate. Adler also highlighted solid support at lower price levels, which could come into play if the current recovery fails to sustain. The next few days will be crucial as Bitcoin tests its ability to reclaim momentum and potentially break through the $100,000 barrier. Bitcoin is currently consolidating within the average purchase range of two key investor cohorts, with strong buyer interest at current prices. The average purchase level in the 1W-1M range provides an extra layer of support in case of a broader market pullback. The data reinforces a widely held bullish outlook for Bitcoin among analysts and investors, who believe the current cycle is still in its early stages. Bitcoin is well-positioned to maintain its bullish momentum in the weeks ahead, with strong demand and robust support levels. The coming days will be pivotal in determining whether BTC surges past $100,000 or consolidates further before resuming its bullish run.