Bitcoin Faces Resistance as Overhead Supply Limits Recovery

Blockchain analytics firm Glassnode reports persistent selling pressure is hindering Bitcoin’s attempts to regain upward momentum.

BTC

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Terms & Concepts
  • Overhead Supply: A market condition where existing sell orders above the current price create resistance, limiting upward price movement.
  • Blockchain Analytics: The process of examining blockchain data to gain insights into network activity, transactions, and market trends.
  • Glassnode: An on-chain data and analytics platform providing insights into blockchain and cryptocurrency market trends.