Analyst: Bitcoin returns to the price level at the beginning of the year, whether it can hold the support level of around $93,500 becomes the key

Odaily News Keith Alan, co-founder of Material Indicators, highlighted that Bitcoin is struggling to regain an important position in price at the beginning of 2025. This position, around $93,500, is a key focus for future movements. Alan was concerned about the brief break below this level after the weekly close. He said: "This is also one of the reasons why I think there may be more downside volatility." However, he also admitted that if the retest of the support level is successful, it may have a positive impact. Alan also added that he hopes Bitcoin's 21-week simple moving average (SMA) can hold, but the price is currently in a "critical area." (Cointelegraph)