TREE NEWS reports: Bitcoin faces resistance at the $87,000-$87,800 range and has traded below it after being rejected, Glassnode said. The on-chain analytics firm, which flagged the zone in a Charting Crypto report with Colin Basco and Coinbase Institutional, said a break above it would likely trigger violent price swings. A large cluster of sell pressure remains near $90,000, Glassnode added.
Glassnode: BTC Break Above $87K-$87.8K Zone Could Trigger Sharp Volatility
Glassnode's read matters less as a price call than as a map of where positioning is thin: the flagged zone and the sell-pressure cluster near $90,000 describe a market where a push through resistance could meet little absorption, which is the mechanism behind the volatility warning. This is aimed at traders managing exposure around those levels and at anyone reading on-chain supply data as a sentiment gauge. The open question is whether the rejection holds and the zone keeps capping upside, or a break forces the kind of sharp repricing Glassnode describes.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.