Bitcoin speculators keep BTC price ‘pinned’ below $68.7K: Glassnode
Bitcoin remains trapped in a tight range because recent buyers are near breakeven and likely to sell into rebounds. Short-term holders, defined as coins bought within the past six months, are about 7.2% underwater overall, with a realized price near $68,700. That level acts as overhead resistance, while the median realized price around $63,000 has repeatedly held as support. BTC/USD has traded between roughly $58,000 and $68,000 since June, with additional resistance near $65,800 and weakening support at $63,000. Supply data reinforces the stalemate: about 1.79 million BTC, or 8.9% of circulating supply, sits in the $62,000–$65,000 cost-basis band. As price moves within that zone, many holders shift between profit and loss, driving heavy turnover. Above current resistance sits Bitcoin’s prior all-time high near $69,400.
