glassnode: If BTC falls below $72,000, it may face greater downward risks

According to PANews on April 10, according to glassnode's analysis, the price of Bitcoin has fallen below two important long-term moving averages - the 111-day moving average ($93K) and the 200-day moving average ($87K), and has fallen to the 365-day moving average ($76K). These moving averages are usually seen as important support levels for the market, and the current breakdown may mean that market sentiment is changing.

The cost price for short-term holders is about $93K, and the Bitcoin price is currently fluctuating in the range of $131K to $72K, but is close to the test lower limit of $72K. If it falls below this level, it may hit short-term investor confidence and lead to further price declines.

In addition, Bitcoin has deeper support areas around $65K and $71K, but these positions are in a low liquidity area. If the price falls into this range, it may cause large fluctuations and attract long-term investors to buy at the bottom.