Glassnode: The buying support wall below Bitcoin is starting to fade, and the bottom is clearly thinning

On-chain analysis firm Glassnode stated that the native support for Bitcoin has begun to disappear. The large buy walls accumulated below the price in June have started to withdraw, and the remaining support is clearly thinning, forming a weaker bottom structure.

Glassnode indicated that it continues to closely monitor this indicator in its weekly updates, showing that the liquidity and buy thickness below the market are weakening, and attention should be paid to the subsequent price volatility risks.