"Bitcoin (BTC) May Fall Further if It Drops Below $88,000"

On-chain analysis firm Glassnode stated on the 9th (local time) via its official X (formerly Twitter) that "the purchase price of Bitcoin (BTC) for short-term holders, $88,000, plays an important role in evaluating price momentum." They analyzed, "According to the URPD indicator, there is a lack of trading volume below the short-term holder purchase price. Therefore, if this price range is breached, there is a possibility of further decline."

Meanwhile, BTC is trading at $94,158.03, down 0.70% from the previous day, based on the Binance Tether (USDT) market as of 01:45 on the 10th.