Analysis: The short-term bull-bear dividing line for Bitcoin is $111,400; if it remains below this level, the mid-term outlook is bearish.
ChainCatcher news, glassnode released its latest opinion after the recent downturn, pointing out that the cost basis of short-term holders is usually regarded as a key battleground between bulls and bears, currently at $111,400. Persistent trading below this level may indicate a shift in market structure towards a medium- to long-term bearish direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Federal Reserve's interest rate cut meets expectations, with a weakening labor market as the main reason.
Powell: The peak inflation rate may be a few tenths of a percentage point higher or lower than the current level
Powell: The rise in long-term interest rates is due to expectations of higher growth
Trending news
MoreCrypto prices
More
