The leading cryptocurrency Bitcoin is currently trending lower, with analysts warning of further declines in the short term. Crypto analysis company Glassnode has issued a critical warning, stating that if the price of Bitcoin remains below a certain level, it could enter "bear territory." Glassnode highlighted the cost base of short-term investors, stating that the cost price was $88,135. Citing historical data, Glassnode suggested that if the price stays persistent below this level, it could signal declining sentiment among new investors and potentially be a turning point towards a bear market. However, Glassnode analysts also noted that the actions of long-term investors do not indicate that the bull market is over, as the majority of them are currently in profit.



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