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Bitcoin falls below key bear-market line, Glassnode analysis reveals
Source: CryptoNewsNet Original Title: Bitcoin falls below key bear-market line, Glassnode analysis reveals Original Link: Bitcoin has dropped below a critical bear-market threshold, specifically the 0.75 cost-basis quantile, according to analysis from Glassnode, an on-chain analytics firm that provides data-driven insights into cryptocurrency markets.
The break below this key cost-basis level signals Bitcoin’s entry into bear-market territory, with Glassnode noting that reclaiming this threshold is essential for restoring a bullish market structure.
The cryptocurrency is currently in a downtrend with momentum appearing oversold, though sell-side pressure is starting to ease, suggesting early signs of stabilization.
Long-term holders are moderating their distribution after weeks of heavy selling, indicating that aggressive supply pressure may be fading.