Bitcoin speculators keep BTC price ‘pinned’ below $68.7K: Glassnode
60-second summary
Bitcoin speculators are keeping the price pinned below $68.7K due to short-term holders attempting to break even on underwater investments, according to Glassnode. This group of investors is struggling to recoup their losses, which is causing the price to stagnate near the range highs. Market instability persists as a result.
Bitcoin’s weakness near range highs stems from short-term holders trying to break even on underwater BTC investments, Glassnode says.