1 hour ago
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Price has since recovered toward $65,000 and reclaimed several long-term reference levels. The rebound now faces a cost-basis barrier near $67,000, while heavy long positioning keeps the risk of another liquidation-driven selloff alive.
Key Takeaways
- A monthly close above the 50-month SMA would strengthen the bottom case.
- The $61.5K cost basis is a market reference, not guaranteed buy-side support.
- Coldcard-driven wallet activity should not be mistaken for fresh Bitcoin demand.
- A break below the June-July lows could turn leverage into additional selling pressure.
The $57.8K Floor
Bitcoin reached roughly $57,900 in June and returned to almost the same level in July, when price fell to about $57,750. The two monthly lows were separated by only around $150.
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