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Glassnode: The key support level for Bitcoin is around $117,000, with approximately 190,000 BTC bought at this price level.
On October 7, Glassnode posted on social media that the cost distribution data for Bitcoin shows weak support in the range of $121,000 to $120,000, while there is a key accumulation zone around $117,000, where approximately 190,000 BTC were bought at that price level. If the price pulls back to this level, recent buyers may actively defend this support zone, leading to new buying demand.