Analysis: The short-term bull-bear dividing line for Bitcoin is $111,400; if it remains below this level, the mid-term outlook is bearish.
ChainCatcher news, glassnode released its latest opinion after the recent downturn, pointing out that the cost basis of short-term holders is usually regarded as a key battleground between bulls and bears, currently at $111,400. Persistent trading below this level may indicate a shift in market structure towards a medium- to long-term bearish direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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