According to TechFlow, on July 26, Cointelegraph reported that Glassnode's report on July 24 showed that more than 75% of short-term Bitcoin holders have realized profits due to Bitcoin's recent rebound. The report pointed out that the rebound has broken through the cost basis of short-term holders, causing 75% of their holdings to return to unrealized profit levels.

Although Bitcoin price has recovered, it faces significant resistance at the $68,000 mark, which is expected to trigger over $700 million in short liquidation. Renowned cryptocurrency analyst Rekt Capital noted that Bitcoin needs to hold steady at the current $65,000 support level to sustain its upward momentum. If the price can break above $68,500, short liquidation will likely exceed $1 billion.