Bitcoin Bull Trend Remains Intact, According to Crypto Analytics Firm Glassnode – But There’s a Catch
The analytics platform Glassnode says that Bitcoin’s (BTC) uptrend remains solid as long as one crucial support area holds.
Glassnode says the data visualization tool Cost Basis Distribution (CBD) heatmap shows Bitcoin has strong support at the “structurally important” zone between the $93,000 – $100,000 range.
CBD is an on-chain metric used to show price areas where investors bought their coins and how much they’re holding. Price zones with dense supply clusters could act as support or resistance levels, as they indicate levels where investors tend to accumulate or offload their holdings.
Glassnode says the $93,000 to $100,000 price area is acting as support for BTC and is keeping the crypto king’s bull market…
