.png){kind=logo}
Bitcoin buyers who entered near $107,000 are showing early signs of easing selling pressure, according to Glassnode data. The pattern resembles realized-loss reversals seen at bear-market bottoms. However, analysts have not confirmed a durable floor, while Bitcoin trades near $64,102 amid liquidity and risk aversion.
Glassnode analyst Cryptovizart focused on Bitcoin held for one to two years. Many in this group bought between July 2024 and July 2025, when Bitcoin rose from about $62,800 to $107,000. The later decline left the cohort holding losses.
As prices stayed below entry levels, these holders sold coins at a loss. Cryptovizart said bear markets have struggled to form stable bottoms until this group reduces selling. The cohort’s 30-day average realized loss passed $75 million before turning lower.
Cryptovizart described the reversal as an early signal, not confirmation. “When the 30D-SMA of their realized loss cools and rolls over,” the analyst wrote, the heaviest distribution phase has often passed. The setup was ‘worth watching closely.’
Glassnode placed the short-term holder cost basis near $69,000. This level sits close to Bitcoin’s 2021 record high and may act as a resistance area. Buyers who entered near that price could sell at break-even.
Glassnode said the first test would ‘likely draw a strong reaction.’ A move above $69,000 could allow the recovery to extend. A rejection could keep Bitcoin inside its range. This reflects uncertainty, as the market has not tested the level during this rebound.
Two-month stochastic RSI readings show conditions linked to earlier reversals.However, that indicator does not confirm a bottom alone. Bitcoin trades below $69,000 and near the lower end of its recent range.
Bitcoin fell 1.05% over 24 hours to $64,102.24, while the crypto market value dropped 0.87%. The decline followed risk-off trading linked to US-Iran tensions, higher oil prices, and inflation concerns. Bitcoin showed a 57% correlation with gold.
Spot volume fell about 6.29% to $27.16 billion, showing limited conviction. Bitcoin also slipped below the 61.8% Fibonacci level near $64,480. Its 14-day RSI stood at 37.19, indicating weak momentum without a confirmed bullish divergence.
Traders are watching $63,800 as support. A daily close below that level could expose $63,000. Meanwhile, a volume-backed return above $64,480 could support stabilization. Upcoming US PCE data may shape Federal Reserve expectations and demand.
A wallet inactive for eight years transferred 5,908 BTC worth about $383 million to a new address. The holder received the coins near the 2017 market peak, when Bitcoin traded around $16,000. The position cost about $100 million and now carries an estimated gain of 284%.
The transfer did not go to a known exchange wallet, so available data does not show a direct sale. The coins moved from an older address format to a newer bc1q address. Such transfers can involve custody changes, key rotation, estate planning or preparations for an over-the-counter deal.
Unlike recent long-term holders selling at losses, this wallet holds a large profit and has not sold through an exchange. The move adds another large on-chain transaction as Bitcoin buyers, older holders, and short-term traders react to prices near $64,000.
Also Read: Bitcoin Open Interest Soars as Price Eyes $64,000 Breakou
