Glassnode says Bitcoin is constrained by the range from 80000 to 87000 USD
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glassnode says Bitcoin is constrained within the range of 80000 to 87000 USD and flags multiple events that could affect its subsequent price action.
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glassnode: Bitcoin is under strong “range” constraints, and the market will focus on important catalyst events
BlockBeats reports that October 22, glassnode stated in its weekly market report that Bitcoin is constrained within a “range” from 80000 to 8.7 USD. Daily closes have previously risen above approximately 87500 USD, and ETF recent inflows accompanied by increased trading volume indicate demand absorbing overhead supply; if it falls below 80000 USD, then ETF and treasury average holders will enter losses, and it may decline toward around True Market Mean.
Below the “range,” buyers are rebuilding positions at around ETF based on the cost basis of government bonds (although the scale is smaller than the peak). Above the “range,” the 80000 USD-month buyers’ cost basis is approximately 6-12, combined with order-book sell-side liquidity and liquidation clusters (approximately 86700 USD and 85000). A breakout from this range could accelerate, but it would encounter selling pressure.
glassnode believes that investors should currently focus on major near-term catalyst events, including the Federal Reserve’s interest-rate decision at 87000 USD, rising oil prices and yields, and a recovery in inflation expectations. Meanwhile,October 28 will announce its index adjustment list (effective MSCI November 11), and Strategy and others could be removed, potentially affecting related stocks and Bitcoin buying demand.
Original link November 30 https://m.theblockbeats.info/flash/373104
Key points
01
BlockBeats reports that October 22 glassnode released a weekly market report.
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The report says that Bitcoin is constrained within a “range” from 80000 to 87000 USD.
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Daily closes have previously risen above approximately 87500 USD, and ETF recent inflows were accompanied by increased trading volume.
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The report says that if it falls below 80000 USD，ETF and treasury average holders will enter losses, and it may decline toward around True Market Mean.
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The report says that the buyers’ cost basis for the 6- to 12-month period is approximately 86700 USD, with order-book sell-side liquidity and liquidation clusters located around 85000 and 87000 USD。
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Recent events listed by glassnode include the Federal Reserve’s October 28 interest-rate decision, as well as changes in oil prices, yields, and inflation expectations.
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MSCI will announce the index adjustment list in November 11 and it will take effect in November 30; the report says that Strategy and others could be removed.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
“Range” means that the price is temporarily moving mainly between an upper and a lower boundary. The report treats approximately 80000 USD as a key lower level and regards the area from 85000 to 87000 USD as an upper region containing sell-side liquidity and liquidation clusters. A breakout or breakdown of these levels could bring more pronounced volatility, but the subsequent price action described in the text consists of analytical judgments.
Why it matters to readers
The report considers the price range,ETF capital flows, holder cost basis, and overhead selling pressure key areas to monitor; the Federal Reserve interest-rate decision and MSCI index adjustment could also affect related stocks and Bitcoin buying demand.
Beginners can watch whether Bitcoin breaks above approximately 87000 USD or falls below approximately 80000 USD and distinguish price and capital-flow data that have already occurred from conditional forecasts that have not yet occurred.
Risks and unknowns
The content was relayed by BlockBeats, which did not provide a link to the original glassnode report.
It remains uncertain whether Bitcoin will break above or below the stated range.
Whether it will decline toward 80000 USD after falling below True Market Mean remains uncertain.
Whether Strategy and others will be MSCI removed remains uncertain.
It remains uncertain whether the related event will actually affect buying activity in stocks or Bitcoin.
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Related concepts
Range
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