7% dip or $141K breakout? Bitcoin speculators dictate BTC price targets

Key Points

1. Glassnode warns that Bitcoin's price may drop 7% to $110,000 due to short-term holder (STH) activity, as their cost basis creates a 'gravity' effect.

2. STHs, holding BTC for up to 155 days, often provide price support where many investors enter the market, but profit-taking could cap upside at around $140,000.

3. A 'cost-basis gap' exists between $115,000 and $110,000, which the market may 'fill' during a pullback, similar to gaps in futures markets.

4. If Bitcoin breaks higher, the $141,000 region is identified as the next major resistance zone, based on STH cost basis analysis.

5. Glassnode's research highlights the role of STH behavior in shaping near-term BTC price movements, with potential for both downside and upside targets.