Glassnode： Bitcoin cost base distribution shows that holders in the 60K-67K range are firm, while 96K-98K may be a strong resistance level According to Glassnode analysis, by tracking the cost base distribution of Bitcoin over the past 6 months, key accumulation and redistribution trends can be identified, providing insights into investors' market positioning during recent sell offs. Data shows that from the end of September to the end of October last year, Bitcoin experienced strong accumulation in the range of 60K-67K US dollars. The address holding this cost basis is still being held, and its Bitcoin supply remains visible. The tiered pattern indicates that these addresses continued to accumulate Bitcoin between November and February, with some investors still increasing their cost base, demonstrating sustained engagement. During the period from the end of December last year to February this year, there was a strong accumulation in the 96K-98K USD range. Although some addresses in these price ranges are reallocating their Bitcoin, the supply cluster is still very dense, and if prices return to these levels, it could create strong resistance.