To continue the development of the rebound from the lows of June, it is important for Bitcoin to overcome the $65,000 mark. This level corresponds to the “cost” of coins purchased by short-term investors, writes CoinDesk.
In other words, speculators, at a price of $63,300 at the time of writing, are holding Bitcoin in the red and may get rid of the coins when they reach breakeven, noted Blockware Intelligence. According to analysts, digital gold prices have fallen below the total value of short-term holders for the first time since August 2023.
Based on these data, I think that the BTC will not show growth until the whales shake out the coins of their short-term speculators. Big players don't need freeloaders. So I think that the hike to 56-57 will take place.
What is written here does not constitute investment advice...
