Compass Point advises caution on BTC dip-buying until $98K is reclaimed

U.S. investment bank Compass Point has advised caution on buying Bitcoin dips until the asset reclaims the $98,000 level, which it identifies as the average purchase price for short-term holders. According to Decrypt, Compass Point views this price point as a key indicator of investor sentiment because short-term holders are particularly sensitive to price fluctuations. The bank noted that BTC recently climbed to $97,500 before failing to break through and subsequently falling below $90,000. While a price correction toward $80,000 could present a buying opportunity, Compass Point warned that risks associated with leveraged purchasing persist.