Bitcoin CBD Heatmap Identifies $95,500–$97,000 as Critical Support Zone
Glassnode’s latest Bitcoin CBD heatmap highlights the $95,500–$97,000 range as the first dense supply cluster below current prices, coinciding with short-term holders’ cost basis. Holding above this zone would reinforce bullish momentum and support a potential return to price discovery. A breakdown below $95,500 risks panic selling and could trigger mid-term bearish pressure, with some analysts forecasting a drop toward $93,000–$95,000 and possible liquidations. Bitcoin is trading near $104,000 after a 2% one-day decline, down 1.27% over the past week and 6.10% month-to-date, with a market cap of $2.05 trillion and 64.3% dominance.
Bearish
The Bitcoin CBD heatmap pinpoints a make-or-break support at $95,500–$97,000; a sustained fall below this level historically leads to accelerated sell-offs and liquidation cascades. Similar past breakdowns—such as the March 2023 drop below $25,000—triggered rapid price declines and heightened volatility. Short-term traders may exit positions on a breach, amplifying downward pressure. In contrast, holding above the zone could restore confidence, but current on-chain metrics and weak price action suggest a higher probability of bearish continuation in both the short and medium term.