An on-chain data expert has identified a critical level that the Bitcoin price must not break, or it could be at risk of a significant downturn.<\/span><\/p>\n On Saturday, March 7, Alphractal founder and CEO Joao Wedson revealed<\/a> on the social media platform X that the $63,700 level is a crucial support level for the Bitcoin price. The crypto expert analyzed why this price level is critical to the long-term health of the flagship cryptocurrency and other relevant levels to watch.<\/span><\/p>\n This on-chain evaluation is based on the Fibonacci-adjusted Market Mean Price, which represents the cost basis, on average, of all Bitcoin holders. This indicator shows BTC\u2019s average cost basis, adjusted with specific Fibonacci ratios; it exhibits mathematical levels of extension or retracement around the BTC average holder\u2019s cost.<\/span><\/p>\n As observed in the chart above, $63,700 is the next most relevant level for the Bitcoin price, per the Fibonacci-adjusted Market Mean Price<\/a>. Wedson noted that the premier cryptocurrency cannot afford to break below this key on-chain level, else its price risks embarking on a downward journey on the charts.<\/span><\/p>\n According to the Alphractal founder, the Bitcoin price could fall to the immediate support cushion around $57,000 if it loses the crucial $63,700. However, there is a chance that the market leader could fall even further to the next Fibonacci-adjusted Market Mean Price around $52,400.<\/span><\/p>\n In the case where Bitcoin price fails to hold above either of the aforementioned support levels, Wedson identified the $48,700 as the worst-case scenario. A drop to this support level would represent an almost 30% move from the current price point.<\/span><\/p>\n Wedson noted in his post:<\/span><\/p>\n It is important to note that these levels are dynamic and update daily, as they adjust according to investor behavior on the blockchain.<\/span><\/p>\n<\/blockquote>\n Wedson appears to have identified the $48,700 as a possible bottom<\/a> for the premier cryptocurrency in its current bearish phase.<\/span><\/p>\n As of this writing, BTC is valued at around $67,330, reflecting an over 1% price decline in the past 24 hours. With a sloppy performance so far in the first quarter of 2026, the market leader is down by nearly 50% from the current all-time high of around $126,080.<\/span><\/p>\n Featured image by DALL-E, chart from TradingView<\/p>\n<\/div>\nCritical Levels For BTC Price: Alphractal CEO<\/b><\/h2>\n
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Bitcoin Price At A Glance<\/b><\/h2>\n
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