‘Resilient’ Bitcoin holders defend BTC, but bear floor sits 20% lower: Glassnode
Bitcoin trades in a tight demand zone that formed in 2024, but previous bear market data suggests the channel will break and lead to new lows.
Bitcoin’s (BTC) market structure shifted into a corrective phase after losing a key onchain valuation level in late January.
Glassnode data shows that BTC’s price is compressing within a 2024-era demand zone as liquidity conditions soften. At the same time, BTC’s supply is steadily shifting into long-term, retail-linked wallets while exchange activity has cooled.
This mix of technical and onchain data, along with the current capital rotation, may shape the next steps for Bitcoin price.