According to glassnode, Bitcoin ($BTC) is currently trading near all-time highs, and the Short-Term Holder Cost Basis provides critical trading insight. This cost basis is set at $97.1k, with significant support and resistance thresholds at $83.2k (–1σ) and $114.8k (+1σ) respectively (source: glassnode, June 7, 2025). A decisive breakout above $114.8k or breakdown below $83.2k could signal the start of a new major trend, making these levels essential for traders monitoring BTC price action and volatility.

According to glassnode, over 420,000 BTC now have a cost basis near the $94,000 level, establishing one of the strongest support zones in the current Bitcoin cycle. This accumulation zone proved resilient during early May consolidation and served as a launchpad for Bitcoin’s breakout to new all-time highs. Traders should monitor this $94K cluster as a critical support level for potential entries and risk management, as significant on-chain activity at this price signals strong holder conviction and a solid foundation for future price action (source: glassnode, May 23, 2025).