The on-chain analytics firm Glassnode has explained how the Bitcoin investor Cost Basis Distribution could highlight this level as an important one. A Notable Amount Of Bitcoin Has Cost Basis At $106,600 In a new post on X, Glassnode has talked about the Bitcoin Cost Basis Distribution for the levels nearby to the current spot price. The “Cost Basis Distribution” (CBD) here refers to an on-chain indicator that tells us about how much of the asset’s supply was purchased at what price levels. Related Reading: Bitcoin At $103,000 Relatively Cool Per This Indicator, Quant Says Below is the CBD chart shared by the analytics firm that shows the data related to price levels above $101,500. As is visible in the graph, the Bitcoin price levels near to the all-time high (ATH) aren’t too dense with supply, meaning that not a lot of buying took place there and many investors who did buy there already capitulated. A level that immediately stands out, however, is $106,600, where holders last purchased around 31,000 BTC. According to Glassnode, this particular supply cluster originat ..
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