Bitcoin whales, an increase in speculative appetite and other macroeconomic factors are playing a role in keeping BTC price above $90,000.
Bitcoin’s (BTC) price dropped to a new range low at $91,055 on Jan. 9, its lowest value since Dec. 1. The next psychological support range remains under $90,000, and some market analysts continue to forecast a decline below this level.
Bitcoin 1-day chart. Source: Cointelegraph/TradingView
However, the following four reasons suggest that BTC may avoid a drop below $90,000.
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