According to glassnode, the BTC CBD Heatmap identifies a dense supply cluster between $95.5k and $97k, positioned just below the short-term holder cost basis at $98k. This confluence is a critical trading threshold: sustained price action above this level supports bullish continuation for Bitcoin (BTC), while a breakdown below may signal the start of a bearish phase in the mid-term. Traders should closely monitor price reactions in this zone for potential breakout or reversal opportunities (source: glassnode, June 20, 2025).

According to @glassnode, between late December and February, there was significant accumulation of Bitcoin in the $96K–$98K price range. This area now represents a dense supply cluster, which could act as a strong resistance if Bitcoin prices revisit these levels. Some holders with cost bases in this range have begun redistributing their BTC, but the overall concentration remains substantial.