Compass Point Advises Caution on Bitcoin Purchases Below $98,000

Investment bank Compass Point has advised investors to exercise caution when considering buying Bitcoin during price dips until it exceeds the $98,000 mark. According to NS3.AI, this level represents the average purchase price for short-term holders. Bitcoin recently approached $97,500 but was unable to maintain this level, subsequently dropping below $90,000. While a decline to approximately $80,000 could offer a potential buying opportunity, the bank cautions that the risks associated with leveraged buying remain significant.