Bitcoin short-term holders cost $63,900, and the lack of liquidity in the summer will continue until September

$BTC is currently rebounding in the 4-hour period. Pay attention to the 61,250 position above. If the rebound stands above this position, the 4-hour level and the daily hour will start to rise. Look at the 63,000-63,600-64,300 positions above!

If the rebound does not go up, pay attention to the support level below 59,500. If it falls below this position, then this wave of rise is over (it will still go up if it does not fall below this position). Pay attention to the support level below 58,400-57,825-56,740!#BTCtrend analysis

The lack of liquidity in the summer may continue until September, making it difficult for Bitcoin to overcome the resistance level of $63,900. The current price is difficult to break through the actual holding cost of short-term holders (STH) of $63,900.

In addition, Mt.Gox and the US government still have nearly $15 billion in potential selling pressure. The U.S. government holds more than 203,000 bitcoins, worth $12.1 billion, while Mt.Gox will distribute another 46,000 bitcoins, worth more than $2.7 billion.

According to an August 29 report from Kaiko, a cryptocurrency analytics provider, Mt.Gox plans to distribute $2.7 billion on Kraken by the end of 2024, but it may not have much impact on the market. Mt. Gox creditors did not sell a lot during the last major $4 billion distribution. As of the end of July, Mt.Gox creditors received nearly $4 billion worth of BTC, accounting for 41.5% of the payments owed to users. According to a July 29 report from Glassnode, most Mt.Gox creditors chose not to sell.

(Creditors choose to accept Bitcoin instead of fiat currency, and only a small portion of the compensation Bitcoin will actually be sold on the market)