Glassnode says Bitcoin remains capped by $88K holder cost basis despite declining selling pressure

Bitcoin's struggle against resistance levels and ETF outflows highlights the market's vulnerability to macroeconomic pressures and investor sentiment shifts. Bitcoin faces growing resistance near $88,000 as exchange traded funds return to net selling and higher US inflation weighs on market sentiment, according to a new report from blockchain analytics firm Glassnode. In its October 14 report , Glassnode identified the $80,000 to $81,500 range as a critical support zone, while investors who purchased Bitcoin over the past two years continue to create selling pressure above current prices.

Source: Crypto Briefing