Glassnode: Bitcoin Liquidation Cluster Near $60k

Glassnode flags Bitcoin's largest liquidation cluster near $60k, where leveraged longs entered near cycle lows and remain untested after the August surge.

Bitcoin trades at $74327.69 inside a bearish structure with EMA50 at $75732.02 and EMA200 at $79278.56. Momentum shows RSI(14) at 44.86 while MACD registers a bullish golden cross at -582.28. Price sits inside the Bollinger Bands, testing toward upper resistance at $76092.07 with lower support at $72939.02. A sweep of the $60k cluster would align with the ongoing grind lower and the sharpest stablecoin supply contraction since June 2022, historically creating buying opportunities for patient capital during forced liquidations.