Attention: Glassnode Reveals Extremely Important Data for Bitcoin! “This Level is Critically Important for BTC!”

Bitcoin (BTC) experienced a strong recovery last week, rising as high as $97,500. However, this recovery was reversed by US President Donald Trump’s tariff threats, causing a renewed decline.

Following Donald Trump’s announcement that he would impose a 10% “Greenland tariff” on 8 European countries starting February 1st (although he later withdrew the plan), BTC fell to $87,000.

While Bitcoin continues to be affected by geopolitical tensions, Glassnode noted that Bitcoin’s on-chain structure remains fragile.

According to onchain analytics firm Glassnode, Bitcoin (BTC) may enter a prolonged period of sideways movement.

At this point, Glassnode noted that the Bitcoin price was stuck in a certain range, warning that a long period of consolidation could be on the horizon for BTC.

Glassnode stated in a recent report that BTC has been trading between $81,100 and $98,400 for some time, and that selling pressure has emerged around $98,400, which is the cost floor for short-term investors (STH).

“Bitcoin is stuck between key cost base levels and could experience a prolonged consolidation similar to 2022 unless key support levels like the STH cost average are regained.”

Glassnode also added that even if the Bitcoin price rises above the average cost basis of STH, which is around $98,000, a significant supply zone around $100,000 could act as sustained resistance.

“The unresolved supply surplus continues to be a persistent source of selling pressure. And this surplus will likely limit attempts above the $98,400 STH cost floor and the $100,000 level.”

Glassnode also added that a sustained upward breakout is unlikely unless there is a significant increase in demand.

*This is not investment advice.

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