According to @glassnode, Bitcoin (BTC) is trading at $111.1k within the 0.85–0.94 quantile cost basis band at $104.1k–$114.1k, a zone that has historically marked post-euphoria consolidation for BTC price action. Source: Glassnode tweet, Sep 9, 2025: https://twitter.com/glassnode/status/1965465795842211885; chart: https://glassno.de/3I3snwq. According to @glassnode, a breakdown below $104.1k would signal further exhaustion, while a sustained reclaim above $114k would indicate renewed demand strength and a potential momentum shift for BTC. Source: Glassnode tweet, Sep 9, 2025: https://twitter.com/glassnode/status/1965465795842211885; chart: https://glassno.de/3I3snwq.

According to @glassnode, the recent all-time high marked the third euphoric phase of this cycle. Source: Glassnode, X, Sep 4, 2025. @glassnode reports that price has retraced into the 0.85-0.95 quantile cost basis band. Source: Glassnode, X, Sep 4, 2025. @glassnode adds that this zone often precedes sideways consolidation before the next major trend, implying range-bound conditions where traders can monitor breakouts beyond the 0.85-0.95 band to confirm direction. Source: Glassnode, X, Sep 4, 2025.