Bitcoin is forming a key resistance zone around the price level of $117,000.

According to a report by Jinse Finance, a chart released by Glassnode indicates that the CBD heat map for Bitcoin shows its supply is highly concentrated around the $117,000 price level, forming a key resistance zone. A breakthrough at this price level may clear the way for subsequent upward movement into areas with thinner liquidity, while a failure to break through could face the risk of an extended consolidation period or a price pullback.

BTC1.25%
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