Bitcoin short-term holders are currently around 7.2% underwater on their investment in aggregate, with their cost basis calculated at $68,700 by Glassnode. This resistance formed by the most recent purchases keeps BTC price stuck in a range between $58,000 and $68,000 since early June. According to Bitfinex Alpha, approximately 1.79 million BTC, representing 8.93% of the circulating supply, have a cost basis between $62,000 and $65,000, explaining the stubborn nature of this price zone. The psychological level of $63,000, identified as support, is showing progressive weakening with each rebound.
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