“BTC, $95,500~$97,000 Must Be Maintained To Sustain Uptrend”

The on-chain data analysis firm Glassnode recently identified $95,500~$97,000 as the key support range for Bitcoin (BTC) through its analysis. This range is particularly close to the average purchase price of $98,000 for short-term holders, serving as a core support line where large-scale supply is concentrated.

Glassnode explained, “If this price range is successfully supported, the current upward trend of Bitcoin is likely to be maintained.” However, they also added that if this support line is breached, the risk of a medium- to long-term bearish transition could increase.

This is intersecting with the adjustment trend observed near recent market highs, acting as a significant factor that could greatly impact the psychology of BTC holders, especially short-term investors. In the current market, whether this range is defended will be a crucial watershed in determining the possibility of a short-term rebound.