Summary
- On-chain analytics firm Glassnode said the next major resistance level for Bitcoin is $108,500.
- Glassnode added that the $108,500 area has served as a resistance level during past recovery phases.
- Bitcoin is currently trading sideways around $106,200, and the kimchi premium was reported at 1.7%%.
On-chain analytics firm Glassnode identified $108,500 as the next resistance level for Bitcoin (BTC) price.
Glassnode said on the 10th (local time) via its official X (X) account, "After Bitcoin rebounded in the $100,000 range, it is currently trading sideways around $106,200," and added, "the next major resistance is $108,500." Glassnode added that "($108,500) has acted as a resistance area during past recovery phases."
As of 8:30 p.m. that day, Bitcoin was trading on CoinMarketCap at $106,170.88, up 3.88% from the previous day. Compared with a week ago, it is down 1.36%. According to CryptoPrice, the kimchi premium was recorded at 1.7% that day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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