1510 ET - Bitcoin's more recent buyers are the ones capping its price lately, according to an analysis from Glassnode. Buyers from the past two years still have a cost basis that's higher than $88,000, and they've turned the price back twice this year, the analysts say. Longer-term holders, meanwhile, have largely stopped selling at a loss. Holders that are already in the black are selling more than those who are in the red, as has been seen in past recoveries, they say. Until Bitcoin is able to close above $88,000, each push higher is going to encounter those recent buyers who can finally sell near their break-even, the analysts say.
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