After a near 40-day government shutdown in the US, a temporary funding bill has passed in the Senate. This move brings a glimmer of hope for market recovery, with Bitcoin, Ethereum, and altcoins experiencing a surge in price. The rise has led to a question: will it sustain? On-chain analytics firm Glassnode predicts the next resistance level for Bitcoin is at $108,500. 💰 This point acts as a historical price floor for the top 15% of investors, indicating a potential turning point in the market’s trajectory.
The company explained that after recovering from around $100,000 (the 75th percentile cost base), Bitcoin is currently trading sideways near $106,000. The next major resistance for Bitcoin is set at $108,500. Notably, this price level has also served as a crucial barrier during past market rebounds. It’s important to remember that this information should not be interpreted as investment advice.
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