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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InBitcoin is currently testing a critical technical support level at $111,000, which aligns with the average cost basis for short-term holders. According to the latest Week 9 report from Glassnode, the market is witnessing a noticeable decline in institutional inflows, signaling a cooling period in professional demand. This slowdown has contributed to mounting selling pressure, leading to a significant escalation in volatility risks across the crypto market. While holding above the short-term holder cost basis remains a positive technical signal, the lack of fresh capital poses a challenge to sustaining upward momentum. Investors are closely monitoring whether the $111,000 level will hold to prevent a deeper price correction in the near term. This phase represents a crucial test of market conviction as institutional appetite shows signs of temporary exhaustion.