According to glassnode, Bitcoin (BTC) is trading above all short-term holder (STH) sub-cohort cost bases, specifically within the 24-hour to 3-month range, which lies between $110K and $117K. This price alignment with a low-volume zone indicates robust support levels for BTC, suggesting that even if a pullback occurs, the cryptocurrency is likely to find strong buying interest near these cost bases. This insight is crucial for traders monitoring potential entry points and managing risk during market corrections, as cited by glassnode.

According to Milk Road, many crypto traders are closely monitoring charts and waiting for lower entry points before committing capital, reflecting a cautious approach amid current market volatility (source: Milk Road on Twitter, May 14, 2025). This behavior indicates that significant buy-side liquidity may be building at lower price levels, which could lead to rapid price moves if those thresholds are reached. Traders should be aware of potential support zones forming and consider the impact of collective entry strategies on short-term price action.