Bitcoin: Idling at Support After 10% Pullback
Glassnode reports Bitcoin idling at support after a 10% pullback from September highs into August breakout levels, with short-term holders mostly at a loss despite absorbing the largest crypto hack.
SourceAnalysis
Glassnode data shows Bitcoin has pulled back about 10% from its September high into levels it broke above in August.
Short-term holders have shifted from nearly all in profit to mostly at a loss while spot volume holds above its pre-pump level and the market has absorbed the largest hack in crypto history.
BTC trades at $80198.43 testing the upper Bollinger Band resistance at $80194.47 while the MACD holds a bullish golden cross at 310.86 and RSI sits neutral at 65.09, keeping price above the 50-EMA support at $78666.6 yet below the 200-EMA at $80833.54 and pointing to consolidation before any further move.
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