[No breakout in the last 3 months! Glassnode reveals the truth behind BTC being stuck at 68.7K🔍📉]
Why can’t Bitcoin keep breaking through?🚨
Mr. X’s fans, click here📲➕➕
🚀公开策略聊天室🔥
Glassnode has the answer:
Short-term speculators are pushing the price down.🔍
The data shows that:
Short-term holders who have held Bitcoin for less than 6 months are down overall by 7.2% unrealized.😳
Their average cost basis is at $68,700.📉
What does that mean?
Every time BTC rebounds to the top of the range, this group of trapped holders rushes to sell—
they want to get their money back and exit.💸
So the price keeps being pinned repeatedly in the 58,000 to 68,000 range.📊
More importantly,
In the 62,000 to 65,000 range, there are 1.79 million BTC stacked,
accounting for 8.9% of the circulating supply.😱
That means:
All above is buyback/escape inventory (break-even sell wall),
while below there’s a huge amount of trapped capital providing support.
No matter the bulls or the bears,
they can’t overpower each other.🤔
📌 According to Glassnode data, short-term holders are down overall by 7.2%, with the cost basis line at $68,700 creating a strong resistance. In the past three months, BTC has been trapped in the 58K–68K range. With dense break-even sell supply overhead and concentrated chips below, a breakout needs fresh capital momentum.🔍📊
📲 Come watch the livestream!🔥
Every day, first thing, I’ll help you understand BTC’s price action, on-chain data, institutional developments, and market trends—using the simplest way to read the market and catch the next opportunity!🚀📈
#美国7月CPI与PPI数据本周出炉 #思科财报超预期股价下跌 #韩国VASP注册审查扩至大股东 #Hyperliquid寻求进入美国永续合约市场
Why can’t Bitcoin keep breaking through?🚨
Mr. X’s fans, click here📲➕➕
🚀公开策略聊天室🔥
Glassnode has the answer:
Short-term speculators are pushing the price down.🔍
The data shows that:
Short-term holders who have held Bitcoin for less than 6 months are down overall by 7.2% unrealized.😳
Their average cost basis is at $68,700.📉
What does that mean?
Every time BTC rebounds to the top of the range, this group of trapped holders rushes to sell—
they want to get their money back and exit.💸
So the price keeps being pinned repeatedly in the 58,000 to 68,000 range.📊
More importantly,
In the 62,000 to 65,000 range, there are 1.79 million BTC stacked,
accounting for 8.9% of the circulating supply.😱
That means:
All above is buyback/escape inventory (break-even sell wall),
while below there’s a huge amount of trapped capital providing support.
No matter the bulls or the bears,
they can’t overpower each other.🤔
📌 According to Glassnode data, short-term holders are down overall by 7.2%, with the cost basis line at $68,700 creating a strong resistance. In the past three months, BTC has been trapped in the 58K–68K range. With dense break-even sell supply overhead and concentrated chips below, a breakout needs fresh capital momentum.🔍📊
📲 Come watch the livestream!🔥
Every day, first thing, I’ll help you understand BTC’s price action, on-chain data, institutional developments, and market trends—using the simplest way to read the market and catch the next opportunity!🚀📈
#美国7月CPI与PPI数据本周出炉 #思科财报超预期股价下跌 #韩国VASP注册审查扩至大股东 #Hyperliquid寻求进入美国永续合约市场