#BTC #bitcoin
Bitcoin (BTC) trades near $65,000 after rising about 13% from its late-June low near $58,000, but on-chain data suggests the move is still a relief rally rather than a confirmed recovery. According to BeInCrypto, unrealized losses remain deeper than during the February crash, spot demand continues to contract, and BTC is still below most of the cost-basis models of major participants. And bulls need to reclaim the cost basis of Short-Term Holders at $69,500 to strengthen the case for a sustained rebound.
Bitcoin (BTC) trades near $65,000 after rising about 13% from its late-June low near $58,000, but on-chain data suggests the move is still a relief rally rather than a confirmed recovery. According to BeInCrypto, unrealized losses remain deeper than during the February crash, spot demand continues to contract, and BTC is still below most of the cost-basis models of major participants. And bulls need to reclaim the cost basis of Short-Term Holders at $69,500 to strengthen the case for a sustained rebound.