On-chain analytics firm Glassnode has revealed a Bitcoin price range that 
defines the current battleground between recent buyers and profit-takers. 
Bitcoin Cost Basis Distribution Shows Where Resistance &amp; Support Are Strongest 
In a new post on X, Glassnode has talked about where support and resistance 
levels lie for Bitcoin based on the Cost Basis Distribution (CBD). This 
indicator basically tells us about the total amount of supply that last 
changed hands at the various price levels that the cryptocurrency has visited 
in its history. Related Reading: Solana Eyes $210 Before Its Next Major 
Move—Uptrend Or Fakeout Ahead? Below is the chart shared by the analytics firm 
that shows the trend in this metric over the last few months. As is visible in 
the graph, the CBD highlights two levels for holding a dense amount of the 
cryptocurrency&#8217;s supply (shaded in red). The lower of these levels is situated 
near $111,000. A large chunk of buying at this mark occurred during the recent 
bearish phase in the asset. The other level is located around $117,000, made 
up of investors who bought during the price rally to the all-time high (ATH). 
Naturally, these buyers would be underwater right now, while those who 
purchased at $111,000 would be in profit. Generally, holders are sensitive to 
retests of their cost basis and can show some kind of reaction during one. 
Since these two levels host the cost basis of a significant amount of 
investors, it&#8217;s possible that when BTC will revisit them, some panic selling 
or buying will crop up. Which behavior would be dominant usually comes down to 
the market mood and the direction of the retest. When the retest occurs from 
above, investors may choose to buy more, believing the same cost basis level 
would result in profits again in the future. Similarly, holders who were in 
loss prior to the retest can react by selling, fearing that the asset will 
drop again in the future. Considering these effects, the $111,000 may be 
considered a key support cushion for Bitcoin, while $117,000 a resistance 
barrier. &#8220;This range defines the current battleground between recent buyers 
and profit-takers,&#8221; noted Glassnode. Related Reading: Bitcoin Fear &amp; Greed 
Index Returns To Neutral As BTC Breaks $115,000 It now remains to be seen 
which level BTC will visit next and how its retest will go. &#8220;A break in either 
direction could set the tone for the next major move,&#8221; explained the analytics 
firm. In some other news, the Stablecoin Supply Ratio (SSR) Oscillator has 
been sitting at cycle lows recently, as Glassnode has pointed out in another X 
post. This oscillator is based on the SSR, which compares the Bitcoin 
circulating supply against the supply of the stablecoins. The SSR Oscillator 
is sitting at a low level at the moment, which indicates that the BTC supply 
is low compared to stablecoin liquidity. &#8220;Historically, such periods precede 
stronger bid-side support when market confidence returns,&#8221; said the analytics 
firm. BTC Price Bitcoin saw a retrace toward $113,500 earlier, but the coin 
has been quick to bounce back as its price has returned to $115,400. Featured 
image from Dall-E, Glassnode.com, chart from TradingView.com

Bitcoin Cost Basis Map Reveals Key War Zone Between Bulls & Bears

The A16z crypto “State of Crypto Report 2025” highlights significant growth in 
digital asset adoption, spurred by advancements in blockchain infrastructure. 
However, experts are divided on whether current blockchain infrastructure 
meets enterprise needs. Metrics of Mainstream Adoption The A16z crypto “State 
of Crypto Report 2025” indicates that an improved blockchain infrastructure 
has been pivotal in […]

The Institutional Divide: Is Blockchain Ready for TradFi? Experts Weigh In on TPS vs. Reliability

The local industry has welcomed the Australian Securities and Investments 
Commission’s expanded crypto guidance, but resourcing concerns remain.

Australian regulator gives long-awaited crypto guidance, but concerns remain

Market expert VirtualBacon recently suggested that the most significant event 
for the crypto industry this year is not the Bitcoin (BTC) Halving or the 
approval of exchange-traded funds (ETFs), but rather a potential shift in 
Federal Reserve (Fed) liquidity policy. After 18 months of tightening 
measures, the Fed is reportedly preparing to pause its quantitative tightening 
(QT) and may even initiate stealth quantitative easing (QE) once again. What’s 
Next For The Crypto Market In a recent post on social media platform X, 
VirtualBacon laid out a compelling argument linking liquidity pivots to 
altcoin cycles. In 2019, the Fed halted QT, which resulted in a rally for 
altcoins. Conversely, in 2022, when the Fed began QT, altcoins peaked. Now, as 
the Fed is expected to end QT in 2025, VirtualBacon anticipates a similar 
surge for altcoins. The correlation is clear: when the Fed increases 
liquidity, altcoins tend to rise. The pressing question now is when exactly QT 
will come to a close. Related Reading: The Next Chapter For Crypto: 
Legislative Clarity, Institutional Support Set Stage For Major Growth While 
the Fed may not explicitly label a shift as QE, the expert notes that the 
pivotal moment will arrive when they remove the language regarding “reducing 
the size of the balance sheet.” The last notable instance of this was during 
the 2019 repo crisis, when banks faced immediate cash shortages, prompting the 
Fed to inject $75 billion into the financial system. Although Powell claimed 
it was “not QE,” it effectively was, and following that intervention, Bitcoin 
tripled in value within months. CME FedWatch Tool Shows High Probability Of 
Rate Cuts Major financial institutions are already making predictions, with 
Goldman Sachs stating that the October meeting is the base case for QT to end, 
Bank of America expecting QT to cease by month-end, and Evercore indicating 
that the Fed is likely to signal an end to QT this week. The same indicators 
that caused market disruptions back in 2019 are signaling distress now. 
Regardless of official statements, it appears QT is nearing its conclusion, 
with stealth QE on the horizon. This shift would facilitate a return of 
liquidity to the markets, which historically has driven crypto prices. 
Liquidity acts as the fuel for market movements, and the Fed is poised to 
refill this tank. Related Reading: China Intensifies Crypto Crackdown With 
Latest Warning Against Stablecoins The CME FedWatch tool currently indicates a 
96.7% probability of a rate cut this month and an 87.9% chance of another cut 
in December. Powell recently hinted that QT would conclude “in the coming 
months,” signaling an imminent pivot. M2 Money Supply Signals Upcoming Bitcoin 
Surge Despite the current market uncertainty, VirtualBacon asserts that 
Bitcoin has not reached its peak. Out of 30 historical indicators that 
typically signal a bull market peak, none have activated yet, with data 
indicating there is still room for growth. The global M2 money supply 
continues to rise, which historically leads Bitcoin prices by 10 to 12 weeks. 
The expert added that since the beginning of the month, this money supply has 
been increasing. This development indicates that Bitcoin’s next upward 
movement is already in the pipeline, albeit lagging behind the liquidity 
curve. Additionally, VirtualBacon forecasts that once the Fed pivots, a new 
altcoin season may commence. Featured image from DALL-E, chart from 
TradingView.com

Is A Crypto Melt-Up Coming? Top Expert Forecasts Liquidity Surge With Fed’s QT Shift

Crypto prices today are drifting lower ahead of the U.S. Federal Reserve’s 
policy update. The total market capitalization has slipped 1.5% to $3.88 
trillion, with most major tokens posting slight losses. At press time, Bitcoin 
trades at $112,831, down 1%…

Cryptocurrency price in HUF