According to Foresight News, data analysis platform Glassnode has updated its Bitcoin supply cluster heat map, identifying a significant supply cluster between $95,500 and $97,000. This zone lies slightly below the short-term holders’ cost basis, which is around $98,000. The convergence of these levels forms a critical threshold that may influence Bitcoin’s market trajectory. Should prices sustain above this range, it would signal favorable conditions for the continuation of the bullish market phase. Conversely, a drop below this cluster could mark the onset of a bearish period over the medium term. This analysis underscores the importance of this price range as a pivotal indicator for investors and traders, providing valuable insight into potential future market movements. Market participants are therefore advised to closely monitor this threshold to better anticipate forthcoming trends.
Source: binance
