Bitcoin retests critical $109K cost-basis band, historical turning point
Key Takeaways
- Bitcoin is currently retesting the critical $109,000 cost-basis band, a historical turning point for the asset's price.
- This retest is happening amid mid-cycle consolidation, supported by strong macro liquidity and demand from ETFs.
Bitcoin is retesting a critical 0.85 cost-basis band around $109,000 that has historically served as a key turning point for the digital asset’s price movements, according to on-chain analytics from Glassnode.
Historically, holding above this level has triggered major rallies, while dropping below it often leads to a decline toward the 0.75 band, near $98,000.
The retest comes as Bitcoin navigates a mid-cycle consolidation phase supported by macro liquidity tailwinds and ETF-driven demand. Recent analyses highlight Bitcoin’s formation of parabolic curve patterns, which signal potential for extended upward trends if key support levels hold.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum News Update: Institutions Move Treasury Assets to Ethereum Amid Declining Bitcoin Dominance
- BitMine Immersion Technologies (BMNR) purchased 44,036 ETH ($166M) during a market dip, now holding 2.8% of circulating ETH as the second-largest digital asset treasury. - Institutional demand is shifting from Bitcoin to Ethereum, with Ethereum ETFs surpassing Bitcoin's in quarterly inflows for the first time in 2025. - Market reactions show divergence: Q3 ETF inflows reached $9.6B, but October saw $555M in outflows, highlighting contrasting institutional and retail behaviors. - Ethereum's price remains
Blockchain-based prediction markets face legal challenges as Romania prohibits Polymarket due to gambling regulations
- Romania banned blockchain prediction market Polymarket for operating without a license, citing gambling law violations. - The move joins crackdowns in Belgium, France, and Poland, as regulators classify such platforms as unregulated gambling. - Polymarket faces U.S. relaunch challenges despite acquiring a CFTC-registered exchange, amid fragmented state regulations and prior $1.4M fines. - Its blockchain-first model aims to differentiate from competitors but struggles against strict European gambling cont
Breaking: Crypto Market Maintains Downward Trend this October 31st
Follow Our Real-Time Updates as Cryptocurrency Values Keep Falling This Halloween
Bitcoin News Update: Galaxy Enhances Staking Platform as Institutions Turn to Bitcoin During Altcoin Market Volatility
- Galaxy Digital expands staking infrastructure with Coinbase Prime, its fourth custodial partner in 2025, aiming to lead institutional crypto solutions. - Jump Crypto's $205M Solana-to-Bitcoin swap via Galaxy highlights institutions shifting to Bitcoin amid altcoin volatility and ETF underperformance. - Galaxy's $443M staked assets and Texas data center expansion reflect growing institutional demand for crypto custody amid regulatory and liquidity challenges.
Trending news
MoreCrypto prices
More
