#比特币价格分析 From the recent market trends, the fact that Bitcoin has fallen below the key level of 100,000 USD is indeed worth following. Analyzing multiple on-chain indicators reveals that long-term holders have sold approximately 185,000 Bitcoins, worth 20 billion USD, which reflects their lack of optimism about the future market. Meanwhile, the average buying cost for short-term holders is around 113,000 USD, with most currently in a loss position. Market momentum has clearly weakened, and indicators like MVRV have turned negative, indicating that the market may enter a correction phase.

I believe that as long as the price of Bitcoin is below $113,000, a cautious attitude should be maintained. The next important support level is around $93,000, and a fall below this level could trigger larger fluctuations. Currently, the real average price is about $82,000, which is a key line for the bull-bear transition. In the near future, Bitcoin is likely to fluctuate and consolidate in the range of $100,000 to $110,000. Investors should closely follow important events that may affect the market, such as the FOMC meeting in mid-December.