Bitcoin Next Crucial Test Lies At $127,000 — Breakout Eyes $144,000 Mark

Bitcoin is trading in the $117,000 price region following a rather eventful week, which allowed investors to experience both sides of the market volatility. Notably, the premier cryptocurrency established a new all-time high at $124,457 before experiencing a sharp crash to below $118,000 driven by recent US PPI data. As enthusiasts await the asset’s next move, prominent analytics firm Glaasnode has unveiled the potential price targets based on short-term holders’ (STH) market activity. Related Reading: Bitcoin Prepares For Make-Or-Break Move As Textbook Triangle Meets Tight Range Short-Term Holder Cost Basis Tips Bitcoin To Race Towards $144K In an X post on August 16, Glassnode shares data from its Bitcoin STH cost basis model, which suggests the cryptocurrency is headed for an overheating region source: https://www.newsbtc.com/news/bitcoin/bitcoin-next-crucial-test-lies-at-127000-breakout-eyes-144000-mark/