Bitcoin price is experiencing significant volatility and is fluctuating around the $70,000 level. Despite this, the market has seen selling pressure from both short-term and long-term holders.

Currently, Bitcoin is consolidating sideways above the $60,000 level, indicating a period of price stabilization amid ongoing market volatility.

Examining the market from two perspectives reveals major support zones at approximately $60,000 and $57,000. The $57,000 zone correlates with the realized price of very active Bitcoin addresses, while the $60,000 zone correlates with the realized price of short-term Bitcoin whales.

As long as Bitcoin's price remains above these support zones, the risk of major corrections and a collapse of its short-term upward momentum is minimized. This consolidation period presents an opportunity for Dollar Cost Averaging (DCA) strategies and gives investors a chance to accumulate Bitcoin at affordable prices.

Written by Crazzyblockk.