Recently, the crypto assets market analysis company Glassnode released a report stating that Bitcoin is currently in a correction phase after reaching a historical high. The report emphasizes that there is currently no evidence of structural capital outflow, and the cost basis of short-term holders has become the dividing line between the bull and bear markets.

Analysts believe that the current adjustment range of Bitcoin is consistent with the normal performance of a bull market. The cost for short-term holders remains above $106,000, indicating a moderate rather than overheated market sentiment. Although there has been an outflow of funds from Bitcoin ETFs, this is seen as a short-term phenomenon that is not sufficient to cause excessive concern.

The market has observed that some large investors are taking profit. Whale accounts have transferred WBTC to the Binance exchange, making a profit of about 10.93 million dollars. This behavior indicates that the market is seeking a new balance point, and the price level of $110,000 may become a key support level.

Industry experts suggest that if the low-price buying continues to accumulate, it will lay a solid foundation for the next round of increases. Investors should closely monitor the resistance level of $116,000; once it breaks through, they may consider increasing their Bitcoin holdings.

Overall, despite the short-term fluctuations in Bitcoin prices, the market fundamentals remain solid. Investors need to stay calm, focus on long-term trends, and adjust their strategies in a timely manner based on market changes.