Glassnode Issues Bitcoin Alert, Says BTC Now Close to ‘Turning Point’ That Often Signals Shift in Market Trend

Description

Analytics firm Glassnode is warning that Bitcoin ( BTC ) is approaching a critical juncture that has previously marked the end of the bull market. Glassnode says on the social media platform X that it is keeping a close watch on Bitcoin’s short-term holder (STH) cost basis, a metric that tracks the average price at which investors who have held their BTC for less than 155 days acquired their coins. According to Glassnode, historical data shows that Bitcoin tends to enter bear territory when its ...