Bitcoin price is finally seeing some relief, but it faces significant resistance at the $68,000 mark, which would trigger over $700 million worth of short liquidations.
Three-quarters of short-term Bitcoin holders are now profitable, potentially giving Bitcoin’s price additional upward momentum.
This is thanks to Bitcoin’s recent rally, as outlined in a July 24 report by Glassnode:
Bitcoin’s price rally offers significant relief for short-term holders, the cohort that saw over 90% of its supply in the red during late July.
