Bitcoin (BTC) stands as a bellwether for market sentiment and price trends. As BTC looks to recover from recent losses, on chain analysis suggests a formidable hurdle at the $65,000 mark, influenced by the behavior of short-term and long-term holders.

Current Market Snapshot

As of July 1, 2024, Bitcoin is trading around $63,200, showing a modest recovery following a 7% decline in June.&middot

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