1001 ET - Bitcoin has been holding above $82,500 for most of the past 24 hours, according to data from Coinglass. That's a good sign, since $82,500 has emerged as the most important support level in the current market structure, XS.com's Simon-Peter Massabni says in a note. Staying above that threshold could give buyers an opportunity to regain control, particularly if Treasury yields retreat and technology stocks recover, he says. That said, trading near support doesn't necessarily indicate that bullish momentum has been restored, Massabni says. Weak spot trading volumes continue to create vulnerability to sudden swings, he says.
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