Bitcoin prices have returned above $105,000 in the past 24 hours following a sharp price decline on Thursday triggered by macroeconomic pressures. Notably, US President Donald Trump and former political ally Elon Musk had engaged in a public spat which spiked the volatility in a crypto market already undergoing a corrective phase. Amidst some level of renewed stability in the last two days, popular analytics firm Glassnode has now shared an important on-chain analysis highlighting the presently key price levels in the Bitcoin market. Related Reading: Can Bitcoin Price Bounce To $120,000 Or Will It Break Below $100,000? Bitcoin Ready For Breakout As Traders Eye $114K And $83K Levels In an X post on June 7, Glassnode provides an insight on potential Bitcoin price action using the Short-Term Holder (STH) cost basis model, derived from the Work of Cost (WOC) price framework. As the name implies, the STH cost basis represents the average purchased price of all coins belonging to short-term holders i.e. investors who acquired their Bitcoin within the last 155 days. The STH cost basis is an important marke ..
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