PANews November 27 news, according to Cryptoslate, based on a report from Glassnode, if the market continues to decline, Bitcoin could fall below the $88,000 region and then continue to approach the $100,000 threshold. The report highlights a key 'gap' as the rapid rise of BTC has led to little trading activity between $76,000 and $88,000, creating an undeveloped price range that could attract market attention if the current pullback continues. However, this price behavior is natural during the price discovery phase, which typically involves cycles of rising, correcting, and consolidating to establish a stable price range. Observing supply distribution during the price discovery phase is crucial for revealing supply and demand areas that may affect Bitcoin's movement.
Earlier today, analysts from Standard Chartered stated that BTC may consolidate in the range of $85,000 to $88,700 before moving upward.
