Glassnode: Bitcoin is consolidating in the $74,000 range, and the decline may slow down slightly

Odaily News Glassnode posted on the X platform that Bitcoin seems to have found support at $74,000. The holding cost of about 50,000 BTC is concentrated at $74,200. On-chain data shows that this part of the holding is mainly held by investors who have been active in the past five months. They steadily increased the holding cost until March 10, and have remained idle since then.
From here, the decline may slow slightly, with a total of about 175,000 BTC in the holding cost cluster between $74,000 and $70,000. The largest single level in this range is $71,600, holding about 41,000 $BTC. The next more solid support level is $69,900, holding about 68,000 BTC. The $69,000 range coincides with the -1 standard deviation of the short-term holder's cost basis, which was defined by Glassnode analysts in January as the lower edge of bullish short-term price fluctuations.