Bitcoin sellers are tiring but weak demand leaves an 18% fall to $52,900 in play
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Compiled by KHAO Editorial
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Bitcoin's first recovery test sits near $69,000.
Key facts
Glassnode's July 8 analysis placed the Short-Term Holder Cost Basis at $72,200 and the True Market Mean at $76,600 after Bitcoin had spent about five months below both
The broader threshold is the July 8 True Market Mean at $76,600, 18.44% above the July 19 spot snapshot
Bitcoin is -0.17% over the past 24 hours and currently sits at rank # 1 by market cap
Its separate entity-adjusted long-term-holder realized-loss measure had recently peaked near $280 million per day, the highest reading since December 2022
Summary
01 Bitcoin trades around $64,672, between a near-$69,000 recent-buyer cost basis and a $52,891 lower realized-price boundary. 02 Reclaiming $69,000 would strengthen the case for a higher low, while failure keeps an 18.22% downside gap in play. 03 Long-term-holder losses are cooling, but weak spot volume and unconfirmed ETF demand leave the recovery unfinished. CryptoSlate's Bitcoin market data shows BTC at $64,672.