Glassnode: Bitcoin forms key support between $97,500 and $99,000, with short-term holders' cost basis around $92,000

TechFlow News, according to Glassnode data, Bitcoin's price has found support twice at the $97,500 level, primarily due to the accumulation of over 200,000 BTC above this price point. Meanwhile, investors with a cost basis above $99,000 have accumulated more than 150,000 BTC.

The analysis shows that the $97,500–$99,000 range has formed a significant support zone, substantially higher than the short-term holder cost basis (approximately $92,000). If the price falls below $97,500, unrealized losses will significantly increase, potentially exacerbating downside risks.