Glassnode： Bitcoin is consolidating in the $74000 range, and the decline may slightly slow down

Odaily Planet Daily News: Glassnode posted on X platform that Bitcoin seems to have found support at $74000 at present. The holding cost of approximately 50000 BTC is concentrated at $74200. On chain data shows that these positions are mainly held by investors who have been active for the past 5 months, steadily increasing their holding costs until March 10th, and have remained inactive since then. From here on, the downward trend may slightly slow down, ranging from $74000 to $70000, with a total of approximately 175000 BTC in the holding cost cluster. The largest single level within this range is $71600, holding approximately 41000 BTC. The next more solid support level is at $69900, where approximately 68000 BTC are held. The $69000 range coincides with the -1 standard deviation of the short-term holder cost base, which was defined by Glassnode analysts in January as the lower edge of short-term price volatility in a bull market.