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Analyst: If Bitcoin cannot effectively break through $66k, the risk of a local top is rising

MarsBitNews
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Mars Finance news: Glassnode Chief Research Analyst CryptoVizArt posted that the cost basis distribution heatmap of short-term holders shows that during Bitcoin’s rebound from $57,000, a new round of coins was transferred to new buyers in the $62,000 to $65,000 range. He believes this structure is two-sided. On one hand, buyers actively accumulate during the rally, which may form a new cost-basis support and create conditions for Bitcoin to further test levels of $66,000 and above. On the other hand, this round of coin accumulation is heavily concentrated toward the end of a local rebound. If Bitcoin cannot effectively break above $66,000, the risk of a local top forming will increase. $66,000 is the short-term key level for judging the two scenarios above.
BTC-0.66%
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