BTC.top founder sees low odds of BTC falling below $75,000

Jiang Zhuoer, founder of mining pool BTC.top and a blockchain entrepreneur with Chinese roots, said on X that Bitcoin is unlikely to hold the $80,000 level but also has a low chance of falling below $75,000. Jiang said BTC’s current price action is unfolding similarly to a scenario outlined on Oct. 7, with $77,000 seen as a key support zone. He said that level is the point of control, or POC, where the largest trading volume was concentrated during a previous consolidation range and again after the rally on Aug. 19. Jiang added that POC refers to the price level with the highest concentration of trading volume during a given period or within a specific price range. He also said the market is unlikely to be pushed below $75,000, where many investors are waiting to buy.