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Glassnode: Bitcoin Supply Concentrated Above $80,000 Continues to Pose Resistance
Glassnode's latest Bitcoin Short-Term Holder Cost Basis Distribution (CBD) heatmap concludes that the consolidation between $80,000 and $95,000 is due to supply concentration above, creating resistance to recent buyers' cost basis.
The heatmap shows that supply above this range has hindered multiple rebound attempts, causing the price to stagnate despite increasing buying interest after pullbacks. If demand above $80,000 continues to accumulate, a breakout could be triggered.