⚠️ Glassnode Alert: Critical Bitcoin Level Ahead — Will the Bulls Defend It? 🚀🐂💥
The on-chain analytics firm Glassnode has sounded the alarm! 📊🔔
Their latest data on Bitcoin’s Cost Basis Distribution (CBD) reveals a key resistance zone that could determine BTC’s next big breakout — or rejection. 🔮⚔️
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🔍 Key BTC Level: $106,600
Glassnode revealed on X (formerly Twitter) that $106,600 is a major cost basis level — around 31,000 BTC were purchased here since December 16th. 🗓️📈
Despite huge market swings since then, those holders are still holding strong — no panic, no sell-off! 💎✋🧠
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📘 What is CBD (Cost Basis Distribution)?
CBD shows how much BTC was bought at which price — like a heatmap of investor activity! 🔥📊
It helps spot zones where whales or retail investors might sell or hold. 🐳👥
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📉 Current Analysis:
Above $101.5K, there's low supply, meaning few investors bought at that level — not much resistance. 🟢
At $106.6K, however, there's a heavy supply cluster = serious resistance. 🧱
But here’s the twist: These investors haven’t sold, even when BTC came close! 🧘♂️🕊️
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💥 Why This Matters:
That $106.6K level could act like a brick wall if sellers rush to break even. 💸🔁
But if holders stay calm — or bulls push through — we could see new highs. 🌈📈
It’s a psychological and technical battlefield! ⚔️🧠
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❓The Big Question:
Will BTC bulls break through $106,600? Or will it bounce back like last time? 🤔
Glassnode says: Keep your eyes glued to this level — it’s a make-or-break zone in the short term! ⏳👀
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📌 TL;DR Recap:
$106.6K = Critical resistance
31K BTC bought here since Dec 16
Holders are firm — no big selling yet
Could trigger a breakout… or rejection
Let’s see if the bulls are strong enough! 🐂🔥
Strap in — this ride’s about to get wild! 🎢⚡️
