Bitcoin Supply Cluster Indicates Key Threshold for Market Trends

According to Foresight News, data analysis platform Glassnode has updated its Bitcoin supply cluster heatmap, revealing a significant supply cluster located in the $95,500 to $97,000 range. This area is slightly below the short-term holder cost basis of $98,000. This convergence zone represents a crucial threshold for Bitcoin's market trends. Maintaining prices above this level is favorable for the continuation of a bull market, while a drop below could potentially trigger a mid-term bearish phase.