Ki Young Ju, founder and CEO of CryptoQuant, pointed out that the demand for Bitcoin has recently stagnated, but it is still not enough to determine that the market has entered a bear market.
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CryptoQuant founder Ki Young Ju: It is too early to assert that we are entering a bear market
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Fidelity: Buyers purchased approximately 430,000 Bitcoins around $85,500, a price level that may be a key support level.
Fidelity Digital Assets, a subsidiary of Fidelity, posted on the X platform that with the shift in macro expectations, Bitcoin has regained upward momentum, currently fluctuating around the $90,000 range. Trading data shows that the buying volume of Bitcoin near $85,500 (about 32% below the historical high) has reached approximately 430,000 coins, indicating that this price level will be an important support level. The market volatility has now stabilized, and Fidelity will closely monitor the market's reaction to today's Federal Reserve meeting.
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