‘Extreme demand’ for BTC at $20K creating new support levels: Glassnode

2022.07.26 19:10

‘Extreme demand’ for BTC at $20K creating new support levels: Glassnode

“Extreme” demand at the $20,000 price point for Bitcoin (BTC) appears to have forced the coins back into the hands of investors who care less about price while creating a new realized price level.

In the latest The Week OnChain Newsletter published on Monday, Glassnode’s UkuriaOC pointed to “extreme demand” around the $20,000 region, noting that each psychological price level from $40,000 to $30,000 to $20,000 creates a new group of short-term holders (STHs).

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