Glassnode: Bitcoin Key Resistance Around $97,000, Huge Selling Pressure Challenge Awaits Breakthrough
Glassnode stated that if Bitcoin ($BTC) is to revisit $100,000, it still needs to overcome considerable supply pressure. Cost basis distribution data shows a particularly dense cluster around the $97,000 mark, where investors hold approximately 392,000 Bitcoins. Some investors may sell at the break-even point, making this area a key resistance level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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