Glassnode Highlights Key Support Levels Amid Bitcoin Sell-Off

📉 Glassnode Analysis: Key Levels Amid Sell-Off

Support levels to watch: Glassnode’s on‑chain data highlights two critical support zones — $103,700 and $95,600. A breakdown below these could signal deeper downside if demand subsides .

Resistance zone: The upper resistance band near $114,800, derived from short‑term holder statistics, marks where renewed bullish momentum could stall .

Long-term holder selling: Profit‑taking by LTHs following recent ATH (~$111.8K) is weighing on momentum, pointing to a potential shift into a consolidation or even distribution phase .

🔍 Current Market Context

Bitcoin briefly dropped under $103K, touching around $102.7K — down roughly 2.3% in 24 hours .

On-chain metrics show shorter‑term holders are now trading near their cost‑basis bands. A key intermediate support lies at the short‑term holder cost‑basis (historically around $92K), with a lower 1σ threshold near $71K .

📊 What to Watch for Next

Holding $103.7K

A slip below could accelerate the sell-off toward $95.6K or even further.

Volume & Profit Realization

Daily realized profits recently peaked at $1.47B, indicating LTHs are cashing out . Cooling profit-taking likely needs to precede stabilization.

Market sentiment / macro factors

Continued ETF outflows or wider risk‑off moves (e.g., stock market declines) could pressure BTC further.

📌 Summary Table

Level Significance

$114,800 Resistance — bullish breakout needed $111.8–114K ATH region where LTH profits taken $103,700 First major support zone $95,600 Next critical support if softening $92,000 Short‑term holder cost basis $71,000 Lower statistical threshold (−1σ)

✅ Final Take

Glassnode’s latest on‑chain data paints the current period as a pivotal consolidation or distribution phase. If Bitcoin holds above $103.7K, it may suggest continued resilience. But a break under that level — or especially under $95.6K/$92K — could trigger a deeper pullback.