PANews reported on April 7 that Glassnode published an analysis on the X platform, saying that Bitcoin seems to have found support at $74,000. The holding cost of about 50,000 BTC is concentrated at $74,200. On-chain data shows that this part of the holdings is mainly held by investors who have been active in the past five months. They steadily increased their holding costs until March 10, and have remained idle since then.

From here, the decline may slow down slightly - between $74,000 and $70,000, a total of about 175,000 BTC are in the holding cost cluster. The largest single level in this range is $71,600, holding about 41,000 $BTC. The next more solid support level is $69,900, holding about 68,000 BTC. The $69,000 range coincides with -1 standard deviation of the short-term holder's cost basis, which was defined as the lower edge of the bullish short-term price fluctuations by Glassnode analysts in January.