Why Bitcoin Reclaiming $92,900 Could Be A Pivotal Moment: Glassnode
Posted On April 24, 2025
Bitcoin (CRYPTO: BTC) has briefly reclaimed the Short-Term Holder (STH) Cost Basis of $92,900, a key on-chain level that historically separates bullish and bearish market regimes, according to a Glassnode report on Thursday.
The price hit $94,700 this week, following optimism around potential tariff relief between the U.S. and China.
What Happened: Glassnode emphasizes that the STH Cost Basis functions as a market pivot, when Bitcoin trades above it, sentiment and price trends tend to improve; when below, the market is often under distribution.
“A sustained break above this price model has marked the transition between bearish corrections and renewed bullish sentiment,” the …
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