Glassnode Dey Flag $97K–$98K BTC Pivot Wit On-Chain Insights
On-chain analytics firm Glassnode dey highlight one tight Bitcoin supply area between $97,000 and $98,000 based on their Cost Basis Distribution (CBD) indicator. Dis small range na where plenty BTC last buy, making am one possible pivot point for how price go move later. Glassnode behavioral groups show say First Buyers and Conviction Buyers dey active more, meaning demand and confidence dey rise again. Meanwhile, more Loss Sellers mean say weak hands dey give up. Technical analysis find fair-value gap at $97,900–$100,700 wey dey act like immediate support. If Bitcoin break below $98K as market FUD dey rise again, Fibonacci levels talk say support fit show at $93.2K, $88.8K and $82.5K. The six-month liquidation heatmap target $92.6K as key level, and liquidity clusters fit push correction near $94K. As we dey talk here, BTC dey trade around $103,900, down more pass 4% this week. Traders make dem watch the $97K–$98K zone: if e hold, e fit cause bullish rebound, but if e break, deeper correction fit happen.
Neutral
Dis news dey show clear support zone for $97K–$98K, backed by on-chain CBD data and technical levels, wey mean say Bitcoin fit bounce back if e hold. But, if e break below dis range, e fit trigger deeper correction to Fibonacci targets and liquidation clusters. The mixed signals—renewed demand from strong buyers against weak hands giving up—show balanced risks and rewards for short and long term, wey make market outlook neutral.