glassnode： If BTC falls below $72000, it may face greater downside risk

According to GlassNode analysis, the price of Bitcoin has fallen below two important long-term moving averages - the 111 day moving average ($93K) and the 200 day moving average ($87K), and has also dropped to the 365 day moving average ($76K). These moving averages are usually considered important support levels in the market, and a current drop below them may indicate a change in market sentiment. The cost price for short-term holders is approximately $93K, and the price of Bitcoin is currently fluctuating within the range of $131K to $72K, but is close to the testing lower limit of $72K. If it falls below this level, it may undermine short-term investor confidence and lead to further price declines. In addition, Bitcoin has deeper support zones around $65K and $71K, but these positions are in low liquidity areas. If the price falls into this range, it may cause significant volatility and attract long-term investors to buy at the bottom.