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The CEO of the Analysis Company Warned: "This Level is the Last Stronghold for Bitcoin, a Major Breakdown Could Occur if it Drops Below"
The CEO of the crypto analysis company Alphractal, Joao Wedson, warned investors by stating that Bitcoin is at a critical support level.
Wedson stated in his statement that Bitcoin should not fall below the support level of 87,500 dollars.
"BTC must not lose the 87,500 dollar level, this is the last support point. This level is based on a strong metric called Alpha Price which relies on on-chain behaviors. We are still above 95,000 dollars right now. However, if 87,500 dollars is broken, it is highly likely that the 75,000 dollar level will also be lost. If this support is maintained, a strong foundation will be formed," he said.
Wedson said, "If I were you, I would place my stop level just below 87,000 dollars. If this level is broken, losses can be limited."
The analysis published by Alphractal also stated that economic uncertainties in the US have reached historical peaks. According to the company's report, the US Economic Policy Uncertainty Index is set to rise to a new record level in 2025. The main reasons behind this increase are listed as follows: