Summary
- "Glassnode said Bitcoin (BTC) has fallen below the 0.95 cost basis quantile."
- "It said this zone is considered a key risk area where investors take profits."
- "It warned that if the zone is not recovered, Bitcoin could further fall to downside support between 105,000 dollars and 90,000 dollars."
On the 24th (local time), on-chain analytics firm Glassnode said, "Bitcoin (BTC) has fallen below the 0.95 cost basis quantile." This is generally regarded as a key risk zone where investors take profits.
Glassnode said, "If the zone is recovered, it could act as a rebound signal," and "However, if recovery fails, Bitcoin could further fall to downside support between 105,000 dollars and 90,000 dollars."
JH Kim
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