Bitcoin’s Crucial Support Zone Faces Test Amid Shifting Cycle Dynamics

Bitcoin is currently trading above the $98,000 support level, with analysts closely watching weekly price closes to gauge the future direction of the market. Bitcoin’s market structure has narrowed down to a decisive area, and several technical reference points converge at around $98,000. These include the 50-week Simple Moving Average (SMA), June 2025’s low point, and the extended 2021 trend line. These markers act as a combined floor for Bitcoin’s price action.