Glassnode: Bitcoin is consolidating in the $74,000 range, and the decline may slow down slightly
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Planet Daily News: stated on X platform that Bitcoin currently seems to have found support at $74,000. Around 50,000 BTC are concentrated at a holding cost of $74,200. On-chain data shows that this position is mainly held by investors active in the past 5 months, who steadily raised their holding costs until March 10, after which they remained stationary. From this point, the decline may slightly slow down, with approximately 175,000 BTC in holding cost clusters between $74,000 and $70,000. The largest single level in this range is $71,600, holding about 41,000 BTC. The next more solid support is at $69,900, where about 68,000 BTC are held. The $69,000 range coincides with the -1 standard deviation of the short-term holder cost basis, an indicator defined by analysts in January as the lower bound of short-term price fluctuations in a bull market.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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