Glassnode: Bitcoin's key support level is around $117,000, with approximately 190k BTC bought at this price level

BlockBeats News, October 7th, Glassnode posted on social media that Bitcoin's cost distribution data shows weak support in the $121,000 to $120,000 range, while a key whale cluster exists near $117,000, with approximately 190,000 BTC bought at that price point. If the price retraces to this level, recent buyers may actively defend this support area, bringing in new buying demand.