TechFlow news, on July 26, according to Cointelegraph, a Glassnode report from July 24 showed that over 75% of short-term Bitcoin holders have realized profits due to Bitcoin's recent rebound. The report noted that this rally has surpassed the cost basis of short-term holders, restoring 75% of their held supply to an unrealized profit state.
Although Bitcoin’s price has recovered, it faces significant resistance at the $68,000 level, potentially triggering over $700 million in short liquidations. Prominent cryptocurrency analyst Rekt Capital pointed out that Bitcoin needs to stabilize above the current support level of $65,000 to maintain its upward momentum. If the price breaks above $68,500, short liquidations could exceed $1 billion.
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