The post Bitcoin Cost Basis Map Reveals Key War Zone Between Bulls & Bears appeared on BitcoinEthereumNews.com. On-chain analytics firm Glassnode has revealed a Bitcoin price range that defines the current battleground between recent buyers and profit-takers. Bitcoin Cost Basis Distribution Shows Where Resistance & Support Are Strongest In a new post on X, Glassnode has talked about where support and resistance levels lie for Bitcoin based on the Cost Basis Distribution (CBD). This indicator basically tells us about the total amount of supply that last changed hands at the various price levels that the cryptocurrency has visited in its history. Below is the chart shared by the analytics firm that shows the trend in this metric over the last few months. As is visible in the graph, the CBD highlights two levels for holding a dense amount of the cryptocurrency’s supply (shaded in red). The lower of these levels is situated near $111,000. A large chunk of buying at this mark occurred during the recent bearish phase in the asset. The other level is located around $117,000, made up of investors who bought during the price rally to the all-time high (ATH). Naturally, these buyers would be underwater right now, while those who purchased at $111,000 would be in profit. Generally, holders are sensitive to retests of their cost basis and can show some kind of reaction during one. Since these two levels host the cost basis of a significant amount of investors, it’s possible that when BTC will revisit them, some panic selling or buying will crop up. Which behavior would be dominant usually comes down to the market mood and the direction of the retest. When the retest occurs from above, investors may choose to buy more, believing the same cost basis level would result in profits again in the future. Similarly, holders who were in loss prior to the retest can react by… The post Bitcoin Cost Basis Map Reveals Key War Zone Between Bulls & Bears appeared on BitcoinEthereumNews.com. On-chain analytics firm Glassnode has revealed a Bitcoin price range that defines the current battleground between recent buyers and profit-takers. Bitcoin Cost Basis Distribution Shows Where Resistance & Support Are Strongest In a new post on X, Glassnode has talked about where support and resistance levels lie for Bitcoin based on the Cost Basis Distribution (CBD). This indicator basically tells us about the total amount of supply that last changed hands at the various price levels that the cryptocurrency has visited in its history. Below is the chart shared by the analytics firm that shows the trend in this metric over the last few months. As is visible in the graph, the CBD highlights two levels for holding a dense amount of the cryptocurrency’s supply (shaded in red). The lower of these levels is situated near $111,000. A large chunk of buying at this mark occurred during the recent bearish phase in the asset. The other level is located around $117,000, made up of investors who bought during the price rally to the all-time high (ATH). Naturally, these buyers would be underwater right now, while those who purchased at $111,000 would be in profit. Generally, holders are sensitive to retests of their cost basis and can show some kind of reaction during one. Since these two levels host the cost basis of a significant amount of investors, it’s possible that when BTC will revisit them, some panic selling or buying will crop up. Which behavior would be dominant usually comes down to the market mood and the direction of the retest. When the retest occurs from above, investors may choose to buy more, believing the same cost basis level would result in profits again in the future. Similarly, holders who were in loss prior to the retest can react by…

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more