#bitcoin update news :
The recent rise of Bitcoin ( BTC ) may trigger a “market correction” if the price action ventures far beyond $33,000, warns recent #research. This cautionary note was sounded in the latest edition of the weekly newsletter, “The Week On-Chain,” published by analytics firm #Glassnode .
According to the publication, speculative selling risk looms as short-term holders (STHs)—the more speculative segment of BTC investors—have garnered attention this year.
Short-term holders’ collective cost basis seemed to form wider Bitcoin price support close to $26,000 recently. While this cost basis has been significant in recent weeks, Glassnode anticipates that the trend could reverse soon.
