Bitcoin Supply Overhang Likely To Cap Rallies Above $98,400, Glassnode Says

On-chain analytics firm Glassnode has pointed out in a new report how Bitcoin is facing supply overhang beyond the $98,000 region. Bitcoin Could Find Resistance Beyond $98,000 In its latest weekly report, Glassnode has discussed about how the recent Bitcoin rally stalled near the Realized Price of the short-term holders (STHs). The “Realized Price” is an on-chain metric that tracks the cost basis of the average investor or address on the BTC network. Related Reading: Bitcoin Sentiment Whiplash: Mood Sours From Greed To Extreme Fear In Days The STH Realized specifically measures the average acquisition level of traders who purchased within the past 155 days source: https://www.newsbtc.com/bitcoin-news/bitcoin-overhang-cap-rallies-98400-glassnode-says/