The lead research analyst at Glassnode has highlighted how the Bitcoin supply 
clustered at the top levels might have to shift down before a sustained 
recovery can take shape. Bitcoin Cost Basis Distribution Shows Massive Supply 
Above $80,000 In a new post on X, Glassnode lead research analyst CryptoVizArt 
has discussed how the Bitcoin supply is looking from the perspective of the 
Cost Basis Distribution (CBD). The CBD is an on-chain indicator that tells us 
about the amount of BTC that was purchased at each of the levels that the 
cryptocurrency has visited during its history. Below is the chart for the 
metric shared by CryptoVizArt. Related Reading: Dogecoin Tests Channel Floor 
Again: Breakdown Or Rebound? As is visible in the graph, there is a decent 
amount of Bitcoin supply that was purchased at recent price levels. This 
supply cluster has built up as the asset has consolidated in the region since 
February. While this cluster isn&#8217;t small, it&#8217;s still less dense than some 
other zones. From the chart, it&#8217;s apparent that there are regions above 
$80,000 that host the break-even level of an extreme amount of supply 
approaching the 495,000 BTC mark. These zones extend up to the top levels from 
the 2025 bull market. Earlier, the levels near $126,000 used to be even more 
dense, but as the digital asset sector has gone through this downturn, supply 
has changed hands at lower levels, weakening these clusters. However, the 
zones continue to be dominant relative to the clusters below $80,000. &#8220;The 
Cost Basis Distribution heatmap shows a dense supply cluster in the $80k–$126k 
range, representing coins still held by buyers near cycle highs,&#8221; noted the 
analyst. Naturally, all of these holders are in a notable amount of unrealized 
loss right now. Generally, underwater investors act as an impediment to price 
surges as they sell near their break-even. This effect could in part be what 
capped out the recovery rally in May. CryptoVizArt explained: For a sustained 
recovery to take shape, this supply needs to gradually migrate into new 
buyers&#8217; hands at lower cost basis levels. As that wall softens, the overhang 
pressure eases and demand has room to build conviction. In the past, the 
process has often taken some time to occur for Bitcoin. &#8220;This transition can 
be achieved through deeper correction and/or bear market continuation,&#8221; said 
the Glassnode researcher. Related Reading: Bitcoin Price Back At $63,000 
Despite 1.2 Million BTC Absorption It now remains to be seen how the CBD will 
develop for Bitcoin in the near future, particularly in terms of whether the 
top buyers finally capitulate to new investors. BTC Price Bitcoin plummeted to 
$59,000 last week, but the asset opened on Monday with some recovery as its 
price is now floating around $63,200. Featured image from Dall-E, chart from 
TradingView.com

The lead research analyst at Glassnode has highlighted how the Bitcoin supply clustered at the top levels might have to shift down before a sustained recovery can take shape. Bitcoin Cost Basis Distribution Shows Massive Supply Above $80,000 In a new post on X, Glassnode lead research analyst CryptoVizArt has discussed how the Bitcoin supply &#8230;

Bitcoin Recovery Needs This To Happen, Glassnode Analyst Reveals

The renewed conflict risks destabilizing regional security, impacting global 
oil supply and financial markets, notably affecting cryptocurrencies.
The post Iran fires missiles at Israel for first time since ceasefire, 
rattling crypto markets appeared first on Crypto Briefing.

The renewed conflict risks destabilizing regional security, impacting global oil supply and financial markets, notably affecting cryptocurrencies. The post Iran fires missiles at Israel for first time since ceasefire, rattling crypto markets appeared first on Crypto Briefing.

Iran fires missiles at Israel for first time since ceasefire, rattling crypto markets

Trump&#8217;s intervention highlights the fragile balance in Middle East diplomacy, 
impacting global markets and underscoring geopolitical volatility.
The post Trump urges Netanyahu not to strike back as Bitcoin whipsaws on 
Middle East tensions appeared first on Crypto Briefing.

Trump&#8217;s intervention highlights the fragile balance in Middle East diplomacy, impacting global markets and underscoring geopolitical volatility. The post Trump urges Netanyahu not to strike back as Bitcoin whipsaws on Middle East tensions appeared first on Crypto Briefing.

Trump urges Netanyahu not to strike back as Bitcoin whipsaws on Middle East tensions

Bitcoin successfully reclaimed the $64,000 threshold, reversing a brutal 
multi-day rout that had previously dragged it below $60,000. Bitcoin Reclaims 
$64,000 Amid Geopolitical Storm Bitcoin staged a resilient comeback, shrugging 
off a volley of escalating military exchanges between Israel and Iran to 
aggressively reclaim the $64,000 threshold. The cryptocurrency’s swift rebound 
offers a stark contrast […]

Bitcoin successfully reclaimed the $64,000 threshold, reversing a brutal multi-day rout that had previously dragged it below $60,000. Bitcoin Reclaims $64,000 Amid Geopolitical Storm Bitcoin staged a resilient comeback, shrugging off a volley of escalating military exchanges between Israel and Iran to aggressively reclaim the $64,000 threshold. The cryptocurrency’s swift rebound offers a stark contrast &#8230;

Bitcoin Rebounds Above $64K as Derivatives Traders Trigger $282.5M Liquidations

Sam Bankman-Fried (SBF), the disgraced founder of the bankrupt FTX exchange, 
is serving a quarter-century in federal prison for orchestrating one of the 
largest financial frauds in US history. Yet, crypto speculators are wagering 
that a newly filed presidential pardon application could somehow reverse his 
fortunes. This week, the disgraced FTX founder officially requested executive 
[…]
The post FTX token (FTT) spikes 50% as Sam Bankman-Fried seeks Donald Trump&#8217;s 
pardon appeared first on CryptoSlate.

Sam Bankman-Fried (SBF), the disgraced founder of the bankrupt FTX exchange, is serving a quarter-century in federal prison for orchestrating one of the largest financial frauds in US history. Yet, crypto speculators are wagering that a newly filed presidential pardon application could somehow reverse his fortunes. This week, the disgraced FTX founder officially requested executive &#8230;

FTX token (FTT) spikes 50% as Sam Bankman-Fried seeks Donald Trump’s pardon

The renewed conflict challenges diplomatic stability, impacts global markets, 
and raises concerns about future economic and geopolitical volatility.
The post Iran fires missiles at Israel following Israeli airstrike on Beirut, 
Bitcoin drops to $62.9K appeared first on Crypto Briefing.

The renewed conflict challenges diplomatic stability, impacts global markets, and raises concerns about future economic and geopolitical volatility. The post Iran fires missiles at Israel following Israeli airstrike on Beirut, Bitcoin drops to $62.9K appeared first on Crypto Briefing.

Cryptocurrency price in CLP

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