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glassnode: The short-term bull-bear boundary for Bitcoin is $111,400. Sustained below this price level indicates a bearish outlook in the medium term.
On September 23, glassnode published its latest view after the recent fall, pointing out that the cost basis of short-term holders is usually regarded as the key line between long positions and short positions, currently at $111,400. Continued trading below this level may indicate a shift in market structure towards a bearish trend in the medium to long term.