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Viewpoint: Bitcoin Lacks Buying Support Below $10,480
BlockBeats News, November 4th, analyst @ali_charts conducted an analysis based on Glassnode's Bitcoin UTXO Realized Price Distribution chart. According to the analysis, below $104,800, Bitcoin has a relatively low quantity of UTXOs (Unspent Transaction Outputs) supporting the price.
Note: This implies that there is less buying interest or concentration of holders at lower prices. If the price were to drop to this level, it could potentially weaken price stability.
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