Bitcoin (BTC) moves to the highest ever highest quality, leading to a statistical room reaching $130,000 before the historic demand emissions zone. July 16th Report By GlassNode.
Bitcoin broke the multi-week range of $100,000 to $110,000, printing new highs of nearly $122,000, clearing dense cost-based clusters that had boughters concentrated between $93,000 and $97,000, between $104,000 and $110,000.
Investors who have built positions in these bands are locking in potential pullback support as price discoveries resume beyond previous resistance.
Placed on top of heavy cost bands
The report investigated the cost-based delivery heatmap and found a concentrated acquisition in two lower zones that Bitcoin cleared. Clearing these supply shelves often convert them into support, as previously underwater or flat PNL holders become defenders of entry costs.
With spots far surpassing both clusters, tracking downside absorption on desks will watch if Bitcoin revisits the $104,000-$110,000 band and bids will reappear.
Profit saturation is built
The report also assessed the distribution of GlassNode’s cost-salinity distribution, showing spots above the 95th percentile level and above $107,400. This will benefit most of the circular supply.
Furthermore, the report said that sharp bursts above this percentile in previous cycles would derive heavier profits as investors’ bases earned expanded profits, increased total cost bases and created a more price-sensitive ownership structure.
That dynamic, if repeated on a large scale, can lead to the best conditions.
Bitcoin rose to $122,600, then increased to $115,900 as investors gained strength when prices extended multiple standard deviations than the Short-Term Holder (STH) cost base.
Historical studies of the report show that STH+1 is frequently useful as a tactical resistance zone in the speculative stage.
The report identified the following resistance in a STH+2 band that was close to $136,000: Traders who are focusing on the psychological $130,000 level are considered to be intermediate waypoints within their statistical range.
Requests fatigue risk
The short-term holder condition is sitting in the early overheating zone. The report measured 95% of STH’s profits, measuring standard deviations above the long-term average of 88% since early May 2025 and third breaks.
They concluded that repeated excursions into the overheated profit realization area have historically preceded the fatigue of broader market demand.
