#比特币价格分析# Looking back at the past, the rise and fall of Bitcoin prices is like a dramatic play full of ups and downs. Recently, seeing Glassnode's analysis reminded me of the experiences from past bull and bear cycles. Currently, the Bitcoin price is above the cost range of short-term holders, a situation that historically tends to suggest a stabilization in market sentiment.

Remember the crazy rise at the end of 2017, when the price far exceeded the holding cost, and the results are well known. Now, although the price is higher than the short-term cost, it hasn't strayed too far, which instead provides the market with a buffer zone. Especially in the range of 110,000 to 117,000 dollars, this coincides with low trading volume, forming a natural defense line.

Based on past experiences, even if a pullback occurs in this situation, the support will be quite strong. However, we must also remain vigilant, as the market is always changing. The current low trading volume may indicate a strong wait-and-see sentiment, and once an unexpected event occurs, the situation could change rapidly.

Overall, the current price structure seems more conducive to stable development rather than drastic fluctuations. However, in this ever-changing market, staying vigilant is always a wise choice. After all, history always tends to repeat itself in new ways.