Cryptocurrency analyst Axel Adler commented on the Bitcoin price, which has been declining in recent days. According to Adler, the pullback experienced by the market is still limited and important support levels are maintained. Adler noted that Bitcoin has only retreated 8% from its local peak, noting that medium-term support lies at the 111-day moving average ($109.6,000) and the realized price for short-term investors ($106.8,000). He explained that these points constitute a high-demand zone between $107,000 and $110,000, arguing that this range is a critical area where price stability can occur and impulse buying can occur. Analist ayrıca “görünür talep” metriğine de dikkat çekti. Bu gösterge, son bir yılda hareket eden genç yatırımcıların (<1 yıl) coinlerinin net değişimini ölçüyor. Pozitif değerler aktif dolaşımın genişlediğine, negatif değerler ise coinlerin yaşlandığına ve uzun vadeli havuza kaydığına işaret ediyor. According to Adler, the metric remains positive, but has fallen to 30,000 BTC. This suggests that demand is still present but momentum is waning. The analyst noted that approaching zero would indicate cooling demand from new entrants. *This is not investment advice.