Analyst: Bitcoin may need to break through $84,000-$85,000 to determine the next trend

PANews October 11 news, crypto analyst Darkfost stated that when Bitcoin's price reached $83,000, about 53% of capital costs were above that price, meaning the holding cost of current buyers is already higher than that of more than half of market participants.

Darkfost pointed out that the $84,000 to $85,000 range is Bitcoin's largest chip distribution zone, where many investors will react at this key price level, and this zone is an important resistance level that Bitcoin's subsequent trend needs to break through. If the price pulls back, the $79,000 to $77,000 range may become a potential support zone.