Glassnode: Mayer Multiple Suggests Strong Support Around $69,500
On-chain data from Glassnode indicates that Bitcoin's Mayer Multiple important indicator tracking price against its 200-day moving average is currently pointing to solid support around $69,500. It may provide a net for bulls in case of a pullback for regrouping ahead of making another attempt higher.
If Bitcoin manages to flip $86,900 into support, Glassnode's projection suggests the next major market top could approach a staggering $208,550.