Bitcoin buyers wary of July sub-$58K floor amid onchain data ‘anomaly’
60-second summary
Bitcoin buyers grow wary as on‑chain HODL‑waves data shows a muted response to the cryptocurrency slipping below the $58,000 threshold, questioning whether that level truly serves as a bear‑market floor; the anomaly suggests reduced defensive buying pressure, which could allow further downside pressure and heightened volatility, potentially dragging broader crypto market sentiment lower.
Bitcoin HODL waves data revealed an unusually muted reaction to Bitcoin’s drop below $58,000, raising questions over its status as a bear-market floor.