GLASSNODE: $BTC TRAPPED BETWEEN $58K SUPPORT AND $68.7K RESISTANCE – REAL DEMAND SIGNALS STILL MISSING



Bitcoin remains caught between the median realized price (around $63,000) and the cost basis of short-term holders (around $68,700), according to Glassnode's latest market perspective .

Key observations:

· Spot trading volume has hit its lowest level since 2019
· Despite core inflation falling to 2.5% and stocks reaching new highs, Bitcoin shows no reaction – indicating a clear lack of demand
· Sellers are exhausted: profit supply is approaching past bear market bottom levels, and the seller exhaustion indicator has hit a cycle low
· Buyer interest remains minimal: ETF inflows are sparse, and coins keep flowing to exchanges

The levels to watch: A break above $68,700 with volume and ETF inflows could signal improvement. Losing $58,500 support could trigger accelerated declines .

👇 Do you think Bitcoin is bottoming or still falling? Type BOTTOM or MORE DOWNSIDE.
#GateLaunchpool141MDOS #GateRankedTop4Globally #JulyCPIInLineAsInflationCools
BTC5.50%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
108 views
  • Reward
  • Comment
  • 3
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned