Blockchain experts Glassnode say Bitcoin is still worth less than $64,000. The market is going slowly because nobody knows what will happen. Coins are still worth $60,000 to $64,000. They need clear directions to help them decide what to do next.
Bitcoin’s Market Stability And Profitability Highlighted By Glassnode Study
A new study from Glassnode says that most of the market is still making money. This is usually because people have held on to their investments for a long time. The price range of $58,000 to $60,000 is still very important to Bitcoin. If this range is broken, the price could fall below the 200-day moving average (200 DMA). This would mean that a “significant number” of short-term buyers would lose money.
Glasnode says that BTC owners should keep a close eye on the market since it is unstable. If prices change near key levels, like $64,000, it could mean the “next range expansion.” It’s been “apathetic and bored” until then, and the market has been in a “widespread fog.”
August has been a bad month for people who own Bitcoin, but July has a history of being good for them. After a red candle close in June, Bitcoin increased by almost 8% in July. BTC’s value dropped six times in June between 2013 and 2024 but increased by at least 9.6% in July.
