Bitcoin Support Levels Under Scrutiny Amid Sell-Off

Glassnode’s recent analysis sheds light on Bitcoin’s current state amidst a selloff. The firm suggests that long-term holders are gradually selling their holdings due to the lack of significant upward momentum and increasing short-term volatility risks. If this trend continues, key support levels for Bitcoin to watch closely stand at $103,700 and $95,600 based on on-chain models.