According to IntoTheBlock, a massive demand zone for Bitcoin has formed just below the current price, with on-chain data indicating that 2.76 million addresses acquired a total of 2.1 million BTC at an average price of 97.1k. This highlights significant buying interest at this level, which could act as a support if the market faces further downward pressure.

According to IntoTheBlock, Bitcoin has recently experienced a near 5% price drop, positioning itself just above a critical demand area. Approximately 1.46 million addresses have purchased Bitcoin at an average price of $96.3k, suggesting a robust support level at this point.