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Bitcoin Cost Basis Distribution Indicates Key Level at $106,600
Glassnode has analyzed the Bitcoin Cost Basis Distribution, highlighting a significant level at $106,600 where approximately 31,000 BTC was acquired. This cluster originated on December 16, and holders have maintained their positions despite market volatility.
Key Points
- Bitcoin price levels near the all-time high lack substantial buying density.
- A notable supply wall exists at $106,600, which could act as a resistance point.
- Resistance observed as Bitcoin approached this level previously, but selling pressure from underwater holders is absent.
- Holders at this level show strong resolve, indicating potential significance for future price movements.
In related news, institutional Bitcoin ETF holdings decreased by 10% in Q1 2025 due to de-risking amid trade uncertainties.
Current Price
Bitcoin is currently trading at $105,200, reflecting a nearly 3% rise over the past week.
Authors credited by the source: Keshav Verma
Published by Holder based on an external source.
