Bitcoin breaks key support level as Glassnode warns of further price breakdown

U.S. president Donald Trump’s surprise nomination of former Fed governor Kevin Warsh as the next Federal Reserve chair boosted the dollar, unwound the precious metals rally, and is bringing bitcoin below a key support level. Onchain data shared by Glassnode shows bitcoin was consolidating just above key structural support around $83.4K, the lower bound of its short-term holder cost basis model. A breakdown below that zone could open the door to a deeper slide toward $80.7K, the so-called True Market Mea ...