Fun

Bitcoin Support Thins Below $78,000 As Cost Basis Clusters Shift Toward $95,000

News Feed - 2025-03-30 10:03:18

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español.


Bitcoin’s price action in the past 48 hours has seen it approachingthe $80,000 price level again, with risks of breaking to the downside. Looking at on-chain data shows a notable support level between $80,920 and $78,000 that must not be broken.  Related Reading Pi Coin Sinks 47% In 14 Days—What’s Behind The Massive Drop? 2 days ago


Particularly, on-chain analytics from Glassnode point to a thinning of support at the $78,000 level, where only minimal cost basis clusters now exist. The insight follows a sharp move that saw savvy traders scoop up nearly 15,000 Bitcoin at the March 10 low before cashing out at the $87,000 local top. Support Cushion Rises With Clusters Between $80,000 And $84,000


Bitcoin started the month of March with a crazy crash that saw its price hit below $77,000 on March 10 and March 11. Most of the month was spent by Bitcoin embarking on a recovery from this level, eventually reaching as high as $88,500 last week.


Interestingly, on-chain data fromGlassnode shows that some Bitcoin traders took advantage of the crash and boughtabout 15,000 BTC at this low. However, many addresses from this same cohort sold at the $87,000 local top, leaving behind a depleted buffer zone that may no longer offer the same price stability.


Bitcoin’s strongest cost basis clusters have steadily migrated upward from $78,000 throughout the month, with the most prominent support levels now sitting between $80,920 and $84,100. Approximately 20,000 BTC were acquired at $80,920, 50,000 BTC at $82,090, and another 40,000 BTC at around $84,100. These fresh accumulations are now the new zones of confidence among recent buyers that may offer cushions for the recent market dip.


At the time of writing, Bitcoin is trading at $83,120, meaning that it has lost the zone of 40,000 BTC around $84,100. This puts the onus on $82,090 and, subsequently, the $80,920 price levels. However, if the correction sharpens further, it wouldn’t be until after $78,000 that structural support reappearsat $74,000 and $71,000, where long-term conviction buying occurred, estimated at 49,000 BTC and 41,000 BTC, respectively.



Image From X: Glassnode $95,000 Cost Basis Cluster Grows With Cooling Demand


As support continues to climb gradually, resistance appears to be firmingnear the $95,000 mark. Investor cost basis data shows an increase of 12,000 BTC clustered at this level since March 24. BTC is now trading at $83,481. Chart: TradingView


This implies that some investors now anticipate a top forming around $95,000, and selling activity could become more pronounced if prices approach that zone. This resistance, alongside the support levels, could see Bitcoin confined within a narrowing range in the short term. Related Reading Bitcoin And Ethereum Face $14 Billion Options Expiry—Market Impact Ahead? 1 day ago


Glassnode data confirms thatlong-term holders (addresses holding Bitcoin for more than 150 days) have been the primary source of profit-taking for a while. Long-term holders’ profit-taking is now nearly matched by the losses endured byshort-term traders who have been holding Bitcoin for less than 155 days. 



Image From X: Glassnode


Featured image from Tech Research Online, chart from TradingView

News Feed

Ripple CEO’s Public Statements About XRP Token Under Fire in Class-Action Lawsuit
Ripple CEO"s Public Statements About XRP Token Under Fire in Class-Action Lawsuit Plaintiffs in the class action lawsuit against Ripple Labs have filed another litigation complai
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $2,000, While BTC Recaptures $30K Level
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $2,000, While BTC Recaptures $30K Level BTC moved away from Monday’s lows to surge above $30,000 on Tuesday, as crypt
Brayden Lindrea1 hour agoCrypto offers Africans a ‘lifeline’ from inflation and corruption, say execsChris Maurice, founder and CEO of crypto exchange Yellow Card said in Africa, crypto isn"t the "casino" t
Mark Cuban speculates Bitcoin may become a global reserve asset
Vince Quill4 hours agoMark Cuban speculates Bitcoin may become a global reserve assetThe entrepreneur and investor has a net worth of $5.4 billion as of 2024 and is no stranger to the world of digital assets.3129 Total v
Bitcoin Price Suffers Bearish Deviation After Filling CME Gap, Is This Good Or Bad?
Este artículo también está disponible en español. The Bitcoin price is struggling to recoverfrom recent declines, as the market downtrend has kept it significantly below
7 confusing crypto terms (almost) nobody understands
Robert D. Knight11 hours ago7 confusing crypto terms (almost) nobody understandsThe crypto world is full of technical terms, some of which are so difficult that almost no one understands them.3646 Total views17 Total sha
Lido staked SOL holders fret as $24M remains stuck on ‘broken’ contract
Felix Ng6 hours agoLido staked SOL holders fret as $24M remains stuck on ‘broken’ contractThere’s still $24 million in Lido-staked Solana despite the program being shuttered five months ago.2031 Total views7 Total
SHIB Listed on ChangeHero for Accountless and Limitless Exchange
SHIB Listed on ChangeHero for Accountless and Limitless Exchange press release PRESS RELEASE. ChangeHero instant cryptocurrency exchange listed SHIB on its platform. Customers can e
Rakesh Upadhyay6 hours agoPrice analysis 11/24: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAXBitcoin has risen above $38,000, clearing the path for a rally higher. Will altcoins follow?2358 Total views5 Total share
China to Launch ‘Digital Asset Trading Platform,’ Media Report Unveils
China to Launch ‘Digital Asset Trading Platform,’ Media Report Unveils A marketplace for digital assets is soon going to open in China under a public-private partnership, local
Derivatives Exchange Injective Pro Launches Bored Ape NFT Floor Price Perpetuals
Derivatives Exchange Injective Pro Launches Bored Ape NFT Floor Price Perpetuals During the last year, the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection has becom
The Mysterious FTX Debacle, Tim Draper’s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review
The Mysterious FTX Debacle, Tim Draper"s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review As theories proliferate wildly about the true nature of wha