📉 BTC stuck below short-term holders’ cost basis
Bitcoin is trading around $74,000, up slightly by nearly 2% on the day, but still below the average cost basis of short-term holders, at around $75,600, according to Glassnode. Bitfinex warns that BTC has been below the $75,717 threshold for four consecutive days — if it doesn’t reclaim that level soon, the risk of a prolonged decline will increase.
Key levels to watch:
• Support: $72,700–$73,000 (200-day MA at ~$73,200), with $68,000 as the next level down, according to Coinglass.
• Resistance: $75,000–$75,700 — breaking above this range would open the door to a recovery.
Market sentiment remains bearish: the Fear & Greed Index is at 27 (Fear), only 35% of BTC holders are in profit, and stablecoin supply has fallen by $14.2 billion in 30 days — its sharpest decline since June 2022.
On the other hand, analyst CrediBULL believes a short squeeze could push BTC from $72,000 to $90,000 in just a few days.
Biggest mover in the past 24 hours: $PEPE down 15.45% (CoinGecko, top 100).
Do you think BTC will break below $68,000 or bounce from this level? 👇
#CryptoNews #Bitcoin #BTC #PEPE
*Market news, not investment advice.*
Bitcoin is trading around $74,000, up slightly by nearly 2% on the day, but still below the average cost basis of short-term holders, at around $75,600, according to Glassnode. Bitfinex warns that BTC has been below the $75,717 threshold for four consecutive days — if it doesn’t reclaim that level soon, the risk of a prolonged decline will increase.
Key levels to watch:
• Support: $72,700–$73,000 (200-day MA at ~$73,200), with $68,000 as the next level down, according to Coinglass.
• Resistance: $75,000–$75,700 — breaking above this range would open the door to a recovery.
Market sentiment remains bearish: the Fear & Greed Index is at 27 (Fear), only 35% of BTC holders are in profit, and stablecoin supply has fallen by $14.2 billion in 30 days — its sharpest decline since June 2022.
On the other hand, analyst CrediBULL believes a short squeeze could push BTC from $72,000 to $90,000 in just a few days.
Biggest mover in the past 24 hours: $PEPE down 15.45% (CoinGecko, top 100).
Do you think BTC will break below $68,000 or bounce from this level? 👇
#CryptoNews #Bitcoin #BTC #PEPE
*Market news, not investment advice.*
