Analyst: There is a demand gap between the price of Bitcoin at $87,000 and $71,000

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ODAILY
01-06
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Odaily reported that analysts from the blockchain data platform glassnode stated that investors should also closely monitor the $48,700 level, which is the cost basis of short-term Bitcoin holders assuming a reasonable cryptocurrency valuation. This type of "on-chain" analysis examines data directly recorded on the blockchain network to gain deeper insights into market trends or investor behavior. The analysts pointed out that there is a demand gap for Bitcoin's price between $48,700 and $71,000, making the former a "critical" level for Bitcoin's short-term price. This level acts as support in an uptrend; however, according to the glassnode analysts, if Bitcoin decisively breaks above this level, it may then turn into a resistance, indicating a shift in market sentiment. (marketwatch)

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