Analysis: The short-term bull-bear dividing line for Bitcoin is $111,400; if it remains below this level, the mid-term outlook is bearish.
ChainCatcher news, glassnode released its latest opinion after the recent downturn, pointing out that the cost basis of short-term holders is usually regarded as a key battleground between bulls and bears, currently at $111,400. Persistent trading below this level may indicate a shift in market structure towards a medium- to long-term bearish direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump Media & Technology Group lost $54.8 million in Q3 and currently holds over 11,500 bitcoins
Bitcoin whale Owen Gunden deposits another 600 BTC to an exchange
21Shares submits Form 8(A) to the US SEC for proposed XRP spot ETF
