A 20% BTC Correction on the Table: Glassnode
CoinDesk
Glassnode warns Bitcoin could correct toward $88K if it fails to reclaim the $113K short-term holder cost basis.Summary
Analytics firm Glassnode suggests Bitcoin faces a potential 20% correction toward $88,000 if it cannot reclaim the $113,000 short-term holder cost basis, a key level for sustaining the bull market. Sentiment is fragile, evidenced by short-term holders selling at a mild loss (STH-NUPL at –0.05) and long-term holders distributing 104,000 BTC this month, the largest wave since July. While the derivatives market has calmed post-October turmoil, Glassnode concludes the market is entering consolidation, but recovery hinges on renewed investor conviction as long-term holders shift back to accumulation.
(Source：CoinDesk)