Analyst: Around $78,000 remains a key support level for Bitcoin; if it breaks through $85,000, it could quickly rise to $95,000

CoinDesk analyst James Van Straten stated that currently close to 15% of Bitcoin's supply is concentrated around the 200-day moving average, which is in the range of approximately $83,000 to $85,000.

He believes that if Bitcoin breaks through $85,000, it could quickly rise to $95,000. Additionally, the true market mean (TMM) and the cost basis of short-term holders are still forming key support around approximately $78,000.