Analysis Firm Issues Warning: “If This Doesn’t Happen in Bitcoin, It Could Drop to $90,000”

Cryptocurrency analysis firm Glassnode has published a striking assessment of Bitcoin's recent market movements. According to the report, Bitcoin's price has lost a key risk band by dipping below the 0.95 Cost Basis Quantile. Glassnode noted that this level typically signals profit-taking zones, and argued that regaining the band would signal strength, but otherwise, the price could retreat toward support levels in the $105,000-$90,000 range. Bitcoin chart shared by Glassnode. Related News: This Altcoin Consistently Sees Unusual Transfers to Arthur Hayes' Wallet from Developers Meanwhile, US spot Bitcoin ETFs have seen slight outflows in recent days after seeing strong inflows in September. Glassnode noted that the overall accumulation trend remains intact, but the slowdown in inflows could signal a temporary pause in institutional demand. A notable decline also occurred in futures. With the Bitcoin price hovering around $113,000, open interest in futures fell from $44.8 billion to $42.8 billion. Glassnode stated that this deleveraging process reduces speculative positions, which could stabilize derivatives markets and reduce the risk of forced liquidations. *This is not investment advice. Continue Reading: Analysis Firm Issues Warning: “If This Doesn’t Happen in Bitcoin, It Could Drop to $90,000”