Glassnode has Revealed the Level Signaling a Turning Point in Bitcoin! "This Price Level Carries Six Months of Risk!"

The leading cryptocurrency Bitcoin is showing a downward trend recently, with analysts warning of further declines in the short term.

At this point, a critical warning came from the crypto analysis company Glassnode. At this point, Glassnode stated that Bitcoin is at a critical point and claimed that if the price persists below a certain level, it could enter the "bear zone".

According to Glassnode, which points to the cost base for short-term investors in Bitcoin, the cost price is stated to be 88.135 dollars.

Glassnode, which refers to historical data, said that if the price remains below $88,135, Bitcoin could enter the "bear zone".

"Bitcoin's Short Term Holder (STH) cost-based model is very important to measure sentiment among new investors. Historically, this model has tracked the lowest levels of the market during bull cycles and also distinguished bull markets from bear markets.

BTC price is currently about 7% above the STH cost base of $88,135. If the price sustains below this level, it could signal declining sentiment among new investors. Which is usually a turning point in market trends and carries the risk of a bear market."

Glassnode analysts pointed out a risk stemming from short-term investors, but noted that the actions of long-term investors do not indicate the end of the bull market.

Analysts stating that almost all long-term investors are currently profitable, 'Looking at past figures, periods when long-term investors have suffered serious losses indicate the end of a cycle. However, we are not at that point right now,' they said.