Bitcoin retests critical $109K cost-basis band, historical turning point
Key Takeaways
- Bitcoin is currently retesting the critical $109,000 cost-basis band, a historical turning point for the asset's price.
- This retest is happening amid mid-cycle consolidation, supported by strong macro liquidity and demand from ETFs.
Bitcoin is retesting a critical 0.85 cost-basis band around $109,000 that has historically served as a key turning point for the digital asset’s price movements, according to on-chain analytics from Glassnode.
Historically, holding above this level has triggered major rallies, while dropping below it often leads to a decline toward the 0.75 band, near $98,000.
The retest comes as Bitcoin navigates a mid-cycle consolidation phase supported by macro liquidity tailwinds and ETF-driven demand. Recent analyses highlight Bitcoin’s formation of parabolic curve patterns, which signal potential for extended upward trends if key support levels hold.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Updates: Bulls and Bears Clash at $3,800 While Ethereum's Future Remains Uncertain
- Ethereum hovers near $3,800 support, with analysts split between caution over bearish momentum and optimism about short-term holder resilience. - Upcoming Fusaka upgrade (Dec 3) aims to boost scalability via EIP-7594 and blob capacity expansion, though immediate price impact remains uncertain. - Ethereum ETFs lost $184M in 48 hours, reflecting growing risk aversion as Bitcoin and altcoins face combined outflows amid weak buying activity. - On-chain data shows diverging MVRV ratios and rising short positi
Singapore Seizes $115 Million Amid Anti-Corruption Campaign
- Singapore police seized $115M in assets from Chinese entrepreneur Chen Zhi under anti-corruption and money laundering laws. - Seized assets include real estate, luxury vehicles, and offshore accounts via a multi-agency investigation involving MAS and other agencies. - The move highlights Singapore's intensified scrutiny of cross-border financial crimes and alignment with global regulatory standards. - Authorities emphasized maintaining ethical business practices amid geopolitical tensions over financial
U.S. Backs Singapore's Stablecoin Framework as a Model for International Regulatory Standards
- U.S. Treasury commends Singapore's regulated stablecoin framework as a global compliance blueprint, praising its balance of innovation and oversight. - APEC 2025 discussions highlighted collaboration on curbing illicit crypto activity, enforcing sanctions, and advancing blockchain infrastructure. - Singapore's MAS positions stablecoins as bridges between traditional banking and DeFi, with local banks testing blockchain-based settlements. - $295B stablecoin market intensifies infrastructure competition, w
Ethereum News Update: Institutions Focus on Performance as Ethereum, Polkadot, and BlockDAG Propel the Next Crypto Bull Market
- Crypto market rebounds with institutional inflows, tech upgrades, and altcoin momentum, led by Ethereum and Polkadot. - Ethereum surges 5.2% to $4,160 on record $9.6B ETF inflows, while SharpLink allocates $200M to Linea DeFi protocols. - BlockDAG's $435M presale highlights performance-driven innovation with hybrid consensus and 20,000 miners, targeting $0.05 listing in 2026. - Polkadot advances ETF ambitions via 21Shares, while macro factors like Bitcoin's $114K stability and Tether's $10B profit signal
Trending news
MoreCrypto prices
More
