Glassnode Announced the Level Marking a Turning Point in Bitcoin! “Six Bears of This Price Level Have a Risk!”

Leading cryptocurrency Bitcoin While it has been on a downward trend recently, analysts warn of further declines in the short term.

At this point, a critical warning crypto analysis company Glass nodeIt came from. At this point, Glassnode stated that Bitcoin was at a critical point and claimed that if the price remained below a certain level, it could enter the “bear zone”.

Accordingly, Glassnode, pointing to the cost base of short-term investors in Bitcoin, stated that the cost price is $ 88,135.

Citing historical data, Glassnode said that Bitcoin could enter the “bear zone” if the price persists below $88,135:

“Bitcoin’s Short-Term Holder (STH) cost-based model is crucial to gauging sentiment among new investors. Historically, this pattern has tracked market lows during bull cycles and has also separated bull markets from bear markets.

BTC price is currently around 7% above the STH cost basis of $88,135. If the price persists below this level, this could indicate declining sentiment among new investors. “Which is often a turning point in market trends and carries the risk of a bear market.”

Although Glassnode analysts point to a risk arising from short-term investors, they stated that the movements of long-term investors do not indicate that the bull market is over.

Stating that almost all long-term investors are currently profitable, analysts said: “When we look at past figures, periods in which long-term investors experience serious losses indicate the end of a cycle. But we are not at that point right now.” he said.

*This is not investment advice.