Bitcoin falls below key bear-market line, Glassnode analysis reveals
Crypto Briefing
Bitcoin dropped below Glassnode's critical 0.75 cost-basis level, signaling entry into bear-market territory.Summary
Bitcoin has fallen below the crucial 0.75 cost-basis quantile, a key bear-market threshold identified by on-chain analytics firm Glassnode. Breaking below this level officially signals the cryptocurrency's entry into bear-market territory, and Glassnode suggests that reclaiming this threshold is necessary to re-establish a bullish market structure. Although Bitcoin is currently in a downtrend with oversold momentum, there are emerging signs of stabilization as long-term holders are beginning to moderate their distribution after previous weeks of heavy selling, suggesting that aggressive supply pressure might be diminishing.
(Source：Crypto Briefing)