Analysis: The important support level for Bitcoin is $64,500, and currently, the bears are not strong enough to push Bitcoin quickly below $60,000
By: rootdata|2026/03/21 11:39:31
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Cryptanalysis expert Murphy stated, "Using 10y_RP as the historical average turnover cost of Bitcoin is more effective in assessing market sentiment. When the price approaches 10y_RP (around $64,500), it often nears the psychological limit of the market. BTC has repeatedly fallen below this level and then regained it, showing a strong resistance willingness from bulls at this sensitive price point, unlike the rapid decline seen when approaching STH-RP previously.
The current greatest uncertainty in the market still comes from the geopolitical conflict between the U.S. and Iran. As key events unfold, attention should be paid to the scope and duration of the conflict and its impact on oil prices. However, at least over the weekend, with a lack of significant institutional and market maker participation, the bearish force is not strong enough to push BTC quickly below the $60,000 mark. This judgment still needs to be further validated after the U.S. stock market opens next week. If the trend is confirmed, the previous analysis logic regarding "how far this rebound can go" and the key resistance levels will still hold."
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