Glassnode: BTC finds support at $111.6K, faces resistance at $118.8K

Bitcoin has risen and stabilized after finding support at the short-term holder (STH) cost basis of $111,600, a move aided by the resumption of spot ETF inflows, according to a recent Glassnode report. The analytics firm explained that while BTC recently rebounded to $118,800, this level acts as a resistance zone where investors who bought at higher prices are likely to realize profits. However, Glassnode pointed to positive signs, including slowing selling pressure from long-term holders (LTHs). The report also noted that the options market has reset following a record-breaking expiration, with call options now dominant in preparation for the fourth quarter.