Glassnode: On-chain data shows that BTC is forming a low-density Accumulation zone in the range of $110,000 to $117,000, which may become a potential bottoming area.
BlockBeats news, on July 24, Glassnode stated, "BTC rapidly rose from $110,000 to $117,000, forming an 'air layer' or low-density Accumulation on-chain. Since Bitcoin reached its historical high of $122,600, the price has remained above this range. If this support is lost, history shows that such gaps may still evolve into a bottoming zone."
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Glassnode: On-chain data shows that BTC is forming a low-density Accumulation zone in the range of $110,000 to $117,000, which may become a potential bottoming area.
BlockBeats news, on July 24, Glassnode stated, "BTC rapidly rose from $110,000 to $117,000, forming an 'air layer' or low-density Accumulation on-chain. Since Bitcoin reached its historical high of $122,600, the price has remained above this range. If this support is lost, history shows that such gaps may still evolve into a bottoming zone."