PANews reported on November 27 that according to Cryptoslate, according to a report from Glassnode, if the market falls further, Bitcoin may fall to the area below $88,000 and then continue to move towards the $100,000 threshold. The report highlights a key "gap" because BTC's rapid rise has led to little trading activity between $76,000 and $88,000, forming an undeveloped price range that may attract market attention if the current pullback continues. However, this price behavior is natural in the price discovery stage, which usually involves cycles of rises, corrections, and consolidation to establish a stable price range. Observing supply distribution during the price discovery stage is crucial to revealing supply and demand areas that may affect Bitcoin's trend.
Earlier today, analysts at Standard Chartered Bank said that BTC may consolidate in the range of $85,000 to $88,700 and then move upward.
