While Bitcoin is trading above the $48,300 level, which is closely watched in on-chain data, analysts consider this region as a long-term accumulation area. It is stated that in the short term, the price has space towards the $ 66,000 band, and then a wider correction may come to the fore.
Why is the $48,300 level being watched?
According to data shared by cryptocurrency analyst Ali Martinez, Bitcoin’s “Investor Price” indicator is currently at $ 48,300. This indicator reflects the average acquisition cost of all economically active Bitcoins, excluding coins that are considered permanently lost.
Mini dictionary: Investor Price is an on-chain indicator that measures the average cost of a Bitcoin supply deemed active in the market. This data is considered by some analysts to be a more representative cost base than classical realized price models, as it excludes coins that are assumed to be lost.
For this reason, the metric in question stands out as a measurement that more accurately reflects the true cost base of the market compared to traditional realized price models. It is reported that in past market cycles, there were periods when Bitcoin approached this level during sharp corrections, then returned to the main upward trend.
The fact that Bitcoin remains above the Investor Price indicator at $ 48,300 indicates that this region may be an important basis for long-term buying appetite if additional volatility is seen.
According to analysts, as long as Bitcoin remains above this level, the long-term structure may find support. On the other hand, a permanent decline in the price below $ 48,300 may indicate a weakening in the market structure and a deterioration in investor sentiment. However, it is emphasized that this indicator does not precisely show the peaks or bottoms on its own, but is rather used to determine the areas where long-term participants have historically tended to buy.
In the short term, $66.279 resistance stands out
On the short-term outlook, investor Kaz stated that Bitcoin maintained its upward trend after the reaction around $61,600. In the shared technical outlook, the low-risk long position zone was located around $ 61,641, while the first target was shown as $ 64,200.
| Level | Meaning |
|---|---|
| $61,641 | Low risk support zone |
| $64,200 | First short term goal |
| $66,279 | next resistor |
| $68,216 | Quarterly opening level |
| $59,128 | Threshold that could weaken the structure |
It was noted that if the upward momentum continues, the next resistance is $ 66,279, followed by the quarterly opening level of $ 68,216. Kaz predicts that Bitcoin may first move upwards, then form a lower top and retreat towards the lower bounds of $50,000 on the higher time frame.
Investor Kaz stated that the short-term upward scenario remains valid as long as the current support zone is maintained, and that the FOMC meeting on June 17 may be a trigger that may first bring an increase and then a selling pressure.
According to the analysis, as long as the current support area is maintained, the short-term positive structure continues to be valid. However, this view may weaken if the price declines below $59.128. Market participants are therefore monitoring both the long-term cost base at $48,300 and the short-term support around $61,641.
