Analysis: The short-term bull-bear dividing line for Bitcoin is $111,400. Sustained trading below this level indicates a bearish outlook in the medium term

ChainCatcher message, glassnode has released its latest view after the recent decline, indicating that the cost basis of short-term holders is typically seen as a key battleground between bulls and bears, currently at $111,400. Continued trading below this level may signal a shift in market structure towards a bearish outlook in the medium to long term.