Bitcoin’s $85K Level Draws Focus as Potential Selling Zone
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Glassnode analysis highlighted $85,000 as the start of a long-term holder cost-basis zone that could bring selling pressure for Bitcoin.
Bitcoin could face selling pressure above $85,000, according to Glassnode analysis cited by Cointelegraph.
The analysis placed $85,000 at the bottom of a cost-basis range for long-term Bitcoin holders, drawing attention to the level as a potential resistance area.
The finding points to a risk of selling as Bitcoin enters that range, rather than a confirmed move by long-term holders to reduce their positions.
Source: Cointelegraph
