Bitcoin could target $95,000-$97,000 if it holds above $84,000, Glassnode says

  • Glassnode says Bitcoin could rise toward $95,000-$97,000 while holding above $84,000.
  • $96,700 marks next resistance near concentrated options-market positions, Glassnode says.
  • Bitcoin trades above $77,000 TMM and past $84,000-$85,000 long-term-holder supply concentration.

Bitcoin could extend its rebound toward the $95,000-$97,000 resistance zone if it remains above $84,000, Glassnode said, as reported by Crypto Briefing. The firm identified stronger inflows into U.S. spot Bitcoin ETFs and a recovery in spot-market trading activity as potential support for the move. Bitcoin is trading above the True Market Mean (average cost basis of active BTC supply) at $77,000 and has moved beyond the $84,000-$85,000 range where long-term holder supply is concentrated. Glassnode placed the next key resistance near $96,700, close to a zone with concentrated options-market positions. A decline below $84,000 would bring the $77,000 support level back into focus. Selling pressure has remained relatively limited during the advance, with holders not yet moving aggressively to realize profits.

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Bitcoin could target $95,000-$97,000 if it holds above $84,000, Glassnode says - CoinPost Terminal