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Glassnode: Bitcoin supply above $80,000 remains concentrated, exerting ongoing resistance on the price
On January 15, Glassnode concluded from the latest Bitcoin Short-Term Holder Cost Basis Distribution (CBD) heatmap that the consolidation of Bitcoin prices in the $80,000 to $95,000 range is due to supply concentration above, creating resistance to recent buyers’ cost basis. The heatmap shows that supply above this range has hindered multiple rebound attempts, causing the price to stagnate despite increasing buying interest after pullbacks. If demand above $80,000 continues to accumulate, a breakout may be triggered.