Bitcoin short-term holder losses have narrowed from -20.48% in June to roughly -4%, bringing the cohort close to its $68,800 cost basis. The price of Bitcoin climbed from $57,800 in July to $65,777 in 22 days, pushing this cohort to hold their positions longer before returning to profit. The Accumulation/Distribution indicator has reached 4.69 million in accumulated Bitcoin volume, and a golden cross formed between the 20-day and 50-day moving averages in mid-July, pointing to bullish momentum. Spot and perpetual market netflows remain negative at 170,000 BTC, however, which could limit the rebound.
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