Bitcoin falls below key bear-market line, Glassnode analysis reveals

Long-term holders show signs of easing sales as early stabilization hints emerge despite market entering bearish trend.

Key Takeaways

• Bitcoin has dropped below a crucial bear-market cost-basis level as identified by Glassnode.
• Falling under this threshold signals Bitcoin is now in bear-market territory.

Bitcoin 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.

Disclaimer