#Strategy加仓BTC In simple terms, the price fluctuations of $BTC are a continuous tug-of-war. Glassnode's heatmap visualizes this: a large number of retail investors and institutions are bottom-fishing within a certain price range, forming a "cost density zone." When the price drops back down, these players either rush to cut losses and exit or hold tightly, resulting in a supply wall that stalls the upward momentum. The opposite also holds true—if the price falls deep enough, holders suffer heavy losses and stop selling; if it rises high enough, early buyers are already smiling, and selling pressure isn't as fierce.

Looking at the current rhythm: the $80,000 to $95,000 range repeatedly confirms support and resistance, marking the boundary between the two. The market's focus keeps shifting upward, now centered around the $110,000 to $114,000 zone, with $117,000 above—this is a "whale accumulation zone," almost becoming the ceiling for each rebound.

The entire game is quite interesting: breaking through one resistance level leads into the next higher oscillation zone, while also triggering a new round of selling pressure from previous investors. The market is essentially digesting these historically dense trading zones, step by step searching for a new equilibrium point. Sentiment indicators from the options market, funding rates, and other data help verify the spot market's bullish or bearish trend. The final outcome depends on whether demand can withstand the supply pressure at these established price levels. If demand is strong, a breakout may occur; if demand weakens, prices will repeatedly bounce within the cost cluster-defined range.