Bitcoin Struggles to Hold Gains After Hitting $111K Amid Key Resistance Levels 📉
Bitcoin surged to a new high of $111,800, surpassing its previous all-time high from January 2025. However, this rally was short-lived as prices retraced, indicating waning bullish momentum.
According to on-chain data from Glassnode, the short-term holder (STH) cost basis is now at $97,100, serving as a crucial support level for recent buyers. The major resistance level is set at $114,800, delineated by the +1 standard deviation band. Elevated downside risks are apparent at $83,200, the -1 standard deviation level, which are crucial zones for assessing Bitcoin's momentum.
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