Glassnode explains why Bitcoin is still in the middle of a bull market, not the end – Bitrss – Crypto World News

A recent Glassnode report indicates that the current Bitcoin trend around its STH costs base is mirroring in the middle of the Bull cycle behavior.

In particular, Bitcoin has had to deal with pressure since he fell of his highest point of $ 123,000 in mid -July. In particular, the beginning of August fell to $ 111,000 before it bounced back over $ 116,000. Although the recovery has contributed to stabilizing sentiment, investors still wonder if the Bull Run has reached a peak. In his latest report, Blockchain Analytics Firm Glassnode suggested that the market remains in Bullish territory and that the current withdrawal does not indicate the end of the cycle. Bitcoin was well above the STH costs base Glassnode emphasized the cost basis in the short term (STH) in its report. For Non -Intachden, this figure follows the average price paid by traders who have bought Bitcoin within the last 155 days. The cost basis is currently at $ 106,100. Bitcoin continues to trade above this level, which separates historic bullish conditions from Beerarish. Glassnode is of the opinion that this setup is similar to the type of structure that is seen in the middle of a bull market, even if the recent drop adds a short -term risk. The corresponding graph supports this comment. In particular, Bitcoin climbed back above the STH costs base in April 2025, after he had stayed under a dip earlier in the year. This correction, which started at the end of February, pushed Bitcoin under $ 90,000. It remained under pressure until April, when buyers took a step back and the prices pushed higher.

Before the drop broke Bitcoin for the first time above the STH costs base during this bull run at the end of 2024, shortly after the election victory of Donald Trump. The rally increased the price beyond $ 100,000, and Bitcoin kept over $ 90,000 and $ 100,000 to the setback of February. From now on Bitcoin trades around $ 116,359, well above the $ 106,100 threshold. Even with this strong position, Bitcoin is still struggling to go beyond the average admission price of recent short -term top buyers, another important statistics. This figure is $ 116,900. Glassnode warned that not breaking above this level could extend the current lateral movement or even activate another drop back to $ 110,000. htts BTC with less than 1 BTC with less than 1 BTC stopped with less than 1 BTC. .

Bitcoin Trend Accumulation Chart by Cohort | Glass node

This behavior shows that both large and retail investors have used the dip to collect more Bitcoin. Nevertheless, Glassnode investigators reminded that this trend comes from a progressive average of 15 days, so it may not be possible to fully record the latest changes in the market. Glassnode also revealed that buyers collected around 120,000 BTC during the recovery from $ 112,000 to $ 114,000. This shows a clear interest on those levels. However, Bitcoin’s range between $ 110,000 and $ 116,000 remains thin, so the market needs more consistent buying in that range to build solid support.

Bitcoin URPD | Glass node

Furthermore, Swissblock, another market research agency, confirms that the market remains strong. It described the correction as a necessary break, no sign of deeper weakness. https://twitter.com/swissblock__/status/1952814097617305723 The company noted that the net realized that the profit and the loss have fallen sharply, while the sales pressure remains low. It also pointed out that SOPR floats lower, not collapsing. This suggests that people lock profits without selling panic. According to Swissblock, investors still want to sell at higher prices, which shows confidence in the wider uprising.