Glassnode: BTC once reached the liquidation zone of 60,000 to 63,000 USD

According to Glassnode analysis, Bitcoin has fallen into what it calls the "Pain Zone" top, with prices once reaching the largest liquidation cluster on the chart, located between $60,000 and $63,000.

Glassnode stated that the warning signals highlighted in its on-chain weekly report over the past few weeks include low volume rebounds, demand outflows, and the presence of this liquidation cluster below the price. The accompanying image shows the liquidation distribution of Bitcoin futures at various price levels.