Bitcoin support retest, supply-demand conditions that could determine a rebound after overheating subsides
Original headline비트코인 지지선 재시험, 과열 해소 이후 반등을 가를 수급 여건
Not investment advice. Muhabbit scores how much a story may matter, not which way to trade.
Bitcoin is retesting a key support level after cooling off from overheated conditions, with Glassnode’s Nov. 4 “Idling at Support” report showing the share of short-term holder supply in profit collapsed from over 97% in early October to about 38% after a roughly 10% decline from September’s high. That swing means most coins bought within the past 155 days are now underwater, turning the rebound question into whether recent buyers can recover profitability and whether trading demand holds up. The setup matters because it defines whether support absorbs supply from loss-making holders or gives way to further downside. Next, watch short-term holder profitability and spot volume around the support zone for signs of renewed demand.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
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Bitcoin (BTC), Glassnode
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