Bitcoin retests critical $109K cost-basis band, historical turning point
Key Takeaways
- Bitcoin is currently retesting the critical $109,000 cost-basis band, a historical turning point for the asset's price.
- This retest is happening amid mid-cycle consolidation, supported by strong macro liquidity and demand from ETFs.
Bitcoin is retesting a critical 0.85 cost-basis band around $109,000 that has historically served as a key turning point for the digital asset’s price movements, according to on-chain analytics from Glassnode.
Historically, holding above this level has triggered major rallies, while dropping below it often leads to a decline toward the 0.75 band, near $98,000.
The retest comes as Bitcoin navigates a mid-cycle consolidation phase supported by macro liquidity tailwinds and ETF-driven demand. Recent analyses highlight Bitcoin’s formation of parabolic curve patterns, which signal potential for extended upward trends if key support levels hold.
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.
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