Bitcoin (BTC) is navigating towards a pivotal juncture at $65,000, facing potential resistance after recent market fluctuations. Currently trading around $63,200, Bitcoin seeks to recover from a 7% loss incurred in June, largely attributed to miner sell-offs and uncertain spot ETF inflows that erased gains from May.
Understanding the $65,000 Resistance
The $65,000 mark poses a significant hurdle for Bitcoin, driven by the behavior of short-term investors who are currently holding BTC at a cost basis around this level.·
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