Glassnode "BTC 95,600 Dollar If Crumbles, Possibility Of Accelerated Decline"

On-chain analysis company Glassnode predicted that if Bitcoin (BTC) fails to support the $95,600 level, further decline is inevitable.

Glassnode explained the background of this analysis in a recent report, stating, "Currently, approximately $1.47 billion worth of profit-taking stocks are appearing in the market daily." In particular, profit-taking by investors who purchased in the $25,000-31,000 range and the $60,000-73,000 range is prominent.

These stocks are causing an oversupply in the market and acting as a major factor in suppressing Bitcoin's upward trend in the short term. Glassnode warned, "If $95,600 collapses, investor sentiment could quickly shrink, accelerating the selling trend."

Currently, BTC is continuing an unstable flow above the major support line, and the possibility of adjustment is increasing unless strong demand is introduced in the short term.