Price Prediction
Bitcoin Price Predicted to Rebound
Bitcoin price is expected to rebound after hitting resistance at $87,700, according to analysis from onchain analytics platform Glassnode. The analysis indicates that two groups of investors with unrealized losses are acting as resistance, with the cost basis of investors who bought BTC between six and twelve months prior currently at $87,700. This cost basis is acting as a key level of support for the price, as it has acted as resistance in the past, preventing the price from moving higher.