Close Menu
FintechFetch
    FintechFetch
    • Home
    • Fintech
    • Financial Technology
    • Credit Cards
    • Finance
    • Stock Market
    • More
      • Business Startups
      • Blockchain
      • Bitcoin News
      • Cryptocurrency
    FintechFetch
    Home»Blockchain»Cost Basis Distribution Defines Key Support Level
    Blockchain

    Cost Basis Distribution Defines Key Support Level

    FintechFetchBy FintechFetchJuly 28, 2025No Comments4 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Bitcoin continues to consolidate between $115,000 and $120,000, with bulls maintaining control despite the lack of a breakout above $123,000. What stands out in this range-bound structure is the clear demand concentration around $117,000. According to Glassnode’s BTC Cost Basis Distribution Heatmap, this level has consistently attracted buying interest, acting as a key area where capital rotates into Bitcoin.

    Related Reading

    The heatmap reveals dense clusters of cost basis activity near key price levels. This reinforces its role as short-term support and a psychological anchor for bulls. As long as this zone holds, the risk of a full breakdown remains limited—even as BTC struggles to reach new highs.

    However, repeated rejections near $120K and muted momentum raise concerns that upside exhaustion could eventually lead to deeper downside. If demand at $117K begins to fade, price may quickly revisit lower levels in search of fresh support. For now, though, on-chain data shows that accumulation remains healthy, and this zone could be the foundation for Bitcoin’s next attempt to reclaim the highs.

    $117K Becomes Bitcoin’s Accumulation Stronghold as Market Shifts

    Bitcoin’s $117,000 level has emerged as a key accumulation zone, with approximately 73,000 BTC now held at this cost basis, according to the latest data from Glassnode. This reinforces the idea that buyers continue to step in on every dip, absorbing selling pressure and stabilizing price action within the current range. The BTC Cost Basis Distribution Heatmap shows a consistent buildup of demand in this area, highlighting investor confidence around this support zone.

    Bitcoin Cost Basis Distribution Heatmap | Source: Glassnode on X

    What makes this cycle particularly unique is the presence of legal clarity and accelerating institutional adoption in the US. Unlike previous cycles, where price action was often driven by retail speculation and extreme volatility, today’s structure appears more measured. Regulatory progress—especially around spot Bitcoin ETFs and clearer custody frameworks—has attracted a wave of long-term capital. This influx of institutional demand is not only stabilizing the market but also making it less reactive to short-term swings.

    However, Bitcoin’s calm price action may not last much longer. As Ethereum gains momentum, driven by rising open interest and on-chain activity, capital is beginning to rotate into altcoins. Historically, such transitions have marked the end of Bitcoin-led phases and the beginning of broader market expansions. If ETH and altcoins continue to accelerate, Bitcoin’s tight trading range could break—either leading to a catch-up rally or a temporary pause as capital rotates elsewhere.

    Related Reading

    BTC Range Narrows As Price Holds Between Key Levels

    The 8-hour chart shows Bitcoin consolidating tightly between $115,724 and $122,077, with the price currently hovering around $118,762. Despite a lack of strong momentum, the structure remains bullish as BTC holds above all major moving averages—the 50 SMA ($118,185), 100 SMA ($113,521), and 200 SMA ($109,754). This alignment signals continued trend strength, with short-term dips being supported by buyers.

    BTC consolidates in tight range | Source: BTCUSDT chart on TradingView
    BTC consolidates in a tight range | Source: BTCUSDT chart on TradingView

    Volume has declined during the consolidation, a typical sign of a neutral phase where market participants await a breakout. Notably, each pullback toward the lower boundary near $115,700 has been met with strong demand, confirming this zone as key support. Meanwhile, resistance at $122,000 continues to cap bullish attempts, forming a clear range that will likely define Bitcoin’s next move.

    Related Reading

    If BTC can reclaim $120,000 with a strong surge in volume, a breakout toward new all-time highs above $123,000 becomes likely. Conversely, a breakdown below $115,700 could trigger a sharper correction toward the 100 SMA around $113,500. For now, all eyes remain on whether bulls can sustain pressure and flip resistance, or if sellers regain control near the top of the range. The current setup favors patient accumulation as the market prepares for its next directional move.

    Featured image from Dall-E, chart from TradingView



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleWix and PayPal Expand Partnership To Bring Greater Payment Options to US Merchants
    Next Article How much do you need in Legal & General shares to target £1,000 a month passive income?
    FintechFetch
    • Website

    Related Posts

    Blockchain

    Loss Could Trigger $100K Retest

    October 18, 2025
    Blockchain

    ‘We Would Already Be Below $108,000 If The Crash Wasn’t Over’

    October 17, 2025
    Blockchain

    Boom Incoming? XRP’s Market Setup Looks ‘Explosive,’ Analyst Says

    October 17, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Why Isn’t XRP Skyrocketing? Expert Explains The Hidden Forces

    April 9, 2025

    London Fintech Summit To Launch This October Following Fintech Week London and Trescon Collaboration

    May 14, 2025

    Can Nvidia stock really keep moving higher?

    September 13, 2025

    Is ITV the best FTSE bargain stock about today?

    May 31, 2025

    Standard Chartered Set to Support Reserve Management of StraitsX Stablecoins in Singapore and US

    February 20, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    Most Popular

    This Ripple (XRP) Metric Flashes Critical Warning Sign

    August 8, 2025

    Before You Start Day Trading, Know These Stages

    July 2, 2025

    Experts Say XRP’s True Value Could Be $10,000

    February 21, 2025
    Our Picks

    Navigating the payroll paradox: empowering professionals for a strategic future: By Anton Roe

    October 18, 2025

    Retro design is making a comeback in tech and home decor

    October 18, 2025

    Traders Angry as Trump Targets Crypto Industry to Foot Bill For New Whitehouse Ballroom Amid Market Crash

    October 18, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 Fintechfetch.comAll Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.