Glassnode Identifies Potential Bitcoin Support Levels Amid Price Fluctuations

Glassnode has analyzed Bitcoin's price levels using different models.

Bitcoin's Current Support Levels

• The Market Value to Realized Value (MVRV) Z-Score shows the current mean at $96,300.
• Bitcoin is currently trading around this mean level.
• If it fails to hold this level, the next support is projected at $80,100, which is -1.5 standard deviations from the mean.
• A secondary model indicates a more significant support level at $92,000, based on the average cost basis of short-term holders who bought within the last 155 days.

Current BTC Price

Bitcoin is trading around $95,400, just below the 1-year MVRV Z-Score mean.