Will Bitcoin Hold the Line? Realized Price Becomes Key Battleground
- Bitcoin trades at $82,163, just above its 2-Year Realized Pricea key psychological support level.
- Pullback from $109,114 to $82K aligns with historic bull market corrections, say crypto analysts.
- Bitwise still expects Bitcoin to hit $200,000 by year-end despite global economic headwinds.
Bitcoin is now sitting near a critical price level that could decide its future trajectory. According to CryptoQuant analyst Onchained, Bitcoins current spot price is brushing up against its 2-Year Realized Price, a crucial marker based on blockchain data. This metric reflects the average acquisition cost of coins that have been moved on the blockchain over the past two years.
Since October 2023, Bitcoin has managed to hold its ground above this line, reflecting continued investor conviction. For many observers, this price level acts like a psychological floor, often helping the coin transition from bearish lows to bullish highs. If this level continues to hold, it could set the foundation for new capital to enter, potentially triggering another wave of buying.
If the price continues to hold or bounce off this level, it may signal a reinforcing base of capital inflows, strengthening the case for continued upward momentum, Onchained stated.
Bitcoin Correction Follows Historic Trend
As of now, BTC is trading at $82,163, reflecting 6.87% increase in the past 24 hours. This comes after a notable pullback of about 24% from its January 20 all-time high of $109,114, aligns with the pullbacks observed in earlier bull market cycles.
In a recent post on X, the well-known crypto analyst CryptoGoos reminded followers that major corrections are a normal part of every bull market. Theres no need to panic now, he wrote, pointing to trends seen in past market cycles.
Adding to the cautious optimism, Master of Crypto, another analyst, highlighted a bullish divergence forming on its daily chartoften a precursor to upward movement. He emphasized that both the falling wedge pattern and the divergence remain intact. If support holds, he believes Bitcoin could aim for $83,500.
Bitcoin Long-Term Confidence Remains Strong
Bitcoins long-term outlook also remains positive despite external factors such as global trade tensions. A recent report by Binance Research highlighted Bitcoins underlying strength, noting that even with mounting tariff pressures, the cryptocurrencys market structure remained bullish, especially after the March 2025 monthly close.
Meanwhile, Bitwise, one of the biggest institutional investors in crypto, remains confident in its bold prediction. Even with the world economy flashing warning signs, the firm isnt backing down. In December, Bitwise predicted that BTC would end the year at $200,000. I still think thats in play, said Matt Hougan, Bitwises chief investment officer, in an April 9 blog update.
Still, if Bitcoin breaks below the 2-Year Realized Price, it could mean more correction or a slow, boring phase ahead. But for now, the level is holding, and momentum is staying positive.
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Read more: https://www.tronweekly.com/bitcoin-approaches-2-year-realized-price/
Text source: TronWeekly
