{"id":37581,"date":"2026-03-08T19:00:55","date_gmt":"2026-03-08T19:00:55","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=37581"},"modified":"2026-03-08T19:00:55","modified_gmt":"2026-03-08T19:00:55","slug":"bitcoin-price-must-not-drop-below-63700-analyst-warns","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=37581","title":{"rendered":"Bitcoin Price Must Not Drop Below $63,700, Analyst Warns"},"content":{"rendered":"

An on-chain data expert has identified a critical level that the Bitcoin price must not break, or it could be at risk of a significant downturn.<\/p>\n

Critical Levels For BTC Price: Alphractal CEO<\/b><\/h2>\n

On Saturday, March 7, Alphractal founder and CEO Joao Wedson revealed<\/a> on the social media platform X that the $63,700 level is a crucial support level for the Bitcoin price. The crypto expert analyzed why this price level is critical to the long-term health of the flagship cryptocurrency and other relevant levels to watch.<\/p>\n

This on-chain evaluation is based on the Fibonacci-adjusted Market Mean Price, which represents the cost basis, on average, of all Bitcoin holders. This indicator shows BTC\u2019s average cost basis, adjusted with specific Fibonacci ratios; it exhibits mathematical levels of extension or retracement around the BTC average holder\u2019s cost.<\/p>\n

As observed in the chart above, $63,700 is the next most relevant level for the Bitcoin price, per the Fibonacci-adjusted Market Mean Price<\/a>. Wedson noted that the premier cryptocurrency cannot afford to break below this key on-chain level, else its price risks embarking on a downward journey on the charts.<\/p>\n

According to the Alphractal founder, the Bitcoin price could fall to the immediate support cushion around $57,000 if it loses the crucial $63,700. However, there is a chance that the market leader could fall even further to the next Fibonacci-adjusted Market Mean Price around $52,400.<\/p>\n

\"Bitcoin<\/p>\n

In the case where Bitcoin price fails to hold above either of the aforementioned support levels, Wedson identified the $48,700 as the worst-case scenario. A drop to this support level would represent an almost 30% move from the current price point.<\/p>\n

Wedson noted in his post:<\/p>\n

\n

It is important to note that these levels are dynamic and update daily, as they adjust according to investor behavior on the blockchain.<\/p>\n<\/blockquote>\n

Wedson appears to have identified the $48,700 as a possible bottom<\/a> for the premier cryptocurrency in its current bearish phase.<\/p>\n

Bitcoin Price At A Glance<\/b><\/h2>\n

As of this writing, BTC is valued at around $67,330, reflecting an over 1% price decline in the past 24 hours. With a sloppy performance so far in the first quarter of 2026, the market leader is down by nearly 50% from the current all-time high of around $126,080.<\/p>\n

\"Bitcoin<\/p>","protected":false},"excerpt":{"rendered":"

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