Bitcoin Rally Supported By $95,000 Cost Basis Zone: Report
Posted On May 15, 2025
Bitcoin‘s (CRYPTO: BTC) recent surge to $104,000 has been driven primarily by spot accumulation and a notable reduction in sell-side pressure, according to Glassnode‘s market report released Thursday.
What Happened: A key short-term support level has emerged around $93,000–$95,000, with both on-chain and exchange data suggesting that recent buyers are defending this cost basis zone.
“A key accumulation zone emerged between $93k and $95k,” the report notes, adding that this range aligns closely with the Short-Term Holder (STH) cost basis, which includes investors who entered the market in the past five months.
Glassnode analysts highlight that this zone is likely to act as a structural support during pullbacks. “This range… represents …
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