Bitcoin continues trading firmly above the critical $110,000 to $117,000 price range identified as the short-term holder cost basis, signaling sustainable market support despite subdued trading volume. This positioning indicates most recent buyers of the cryptocurrency remain in profitable territory rather than selling at a loss, significantly lowering risks of a sharp downward correction.
According to Glassnode analytics, the stability above this key threshold—representing the average acquisition price for investors holding Bitcoin between 24 hours and three months—demonstrates foundational market strength. Historically influential in driving momentum, this investor cohort’s reluctance to sell provides crucial price reinforcement, particularly with current low volume translating to limited selling pressure across exchanges.
Market watchers caution, however, that a decisive drop below $115,000 could trigger cascading liquidations totaling approximately $1.59 billion in long positions on major centralized exchanges. Despite this vulnerability, the strong positioning above the fundamental cost basis suggests protective support in the near term.