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Key Takeaways
- Bitcoin is presently retesting the vital $109,000 cost-basis band, a historic turning level for the asset’s worth.
- This retest is occurring amid mid-cycle consolidation, supported by sturdy macro liquidity and demand from ETFs.
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Bitcoin is retesting a vital 0.85 cost-basis band round $109,000 that has traditionally served as a key turning level for the digital asset’s worth actions, in response to on-chain analytics from Glassnode.
Traditionally, holding above this degree has triggered main rallies, whereas dropping beneath it typically results in a decline towards the 0.75 band, close to $98,000.
The retest comes as Bitcoin navigates a mid-cycle consolidation part supported by macro liquidity tailwinds and ETF-driven demand. Latest analyses spotlight Bitcoin’s formation of parabolic curve patterns, which sign potential for prolonged upward developments if key help ranges maintain.
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