Oct 29, 2025
23 10
Glassnode Identifies Key Bitcoin Support at $111K, Resistance at $117K
Glassnode has identified key support and resistance levels for Bitcoin using the Cost Basis Distribution (CBD) metric:
- The support level is around $111,000, where significant buying occurred during a recent bearish phase.
- The resistance level is near $117,000, associated with purchases made during Bitcoin's rally to its all-time high.
These levels represent a battleground between recent buyers and profit-takers. A retest of these levels could influence market behavior:
- If BTC retests from above, it may cause more buying due to anticipated future profits.
- Sellers might emerge if they fear a future drop after being previously at a loss.
Additionally, Glassnode notes that the Stablecoin Supply Ratio (SSR) Oscillator is at cycle lows, suggesting low Bitcoin supply compared to stablecoin liquidity. This historically precedes stronger market support when confidence returns.
BTC Price Update: Bitcoin recently retraced to $113,500 but rebounded to $115,400.
