Glassnode Says Bitcoin’s Native Support Is Fading as Bid Walls Pull Back

On-chain analytics firm Glassnode said Bitcoin’s native support has started to fade, pointing to a retreat in the large bid walls that had built up below the market in June. According to the firm, the remaining support under price has thinned noticeably, leaving what it described as a more fragile bottom structure. Glassnode added that it has been tracking this metric closely in its weekly updates. The latest reading suggests that downside liquidity and the depth of spot buying interest are weakening, a shift that could leave the market more exposed to future price swings. The firm did not provide new price targets or additional market forecasts in the update cited by ChainCatcher.