Bitcoin Next Key Level Is $136,000 If Momentum Holds, Glassnode Says

According to Glassnode, Bitcoin's next key price level could be $136,000 if its current upward trend continues. This projection is based on the Short-Term Holder Cost Basis, which tracks the average price investors paid for Bitcoin within the last 155 days. While Bitcoin has surpassed levels indicating heated market conditions, some indicators suggest the market is not yet overheated. However, other metrics, such as the percentage of Short-Term Holder supply in profit and the volume leading to profit realization, have surged above historical thresholds, signaling potential risk. Profit-taking activity has also spiked, but historically, such spikes have occurred multiple times before a market top is reached. Bitcoin is currently trading around $118,800, showing an 8% increase over the past week.