Glassnode: Bitcoin LTH Capitulation Cools

Glassnode notes Bitcoin's bottom formation continues with shifting character as long-term holder capitulation cools and buyers absorb the June lows.

Price climbs back toward prior resistance levels while BTC price prediction models incorporate fresh on-chain metrics signaling Bitcoin market bottom formation.

Bitcoin trades at $65039.86 inside the Bollinger Bands on the 4-hour chart, testing toward upper resistance at $65914.89 while the EMA50 at $63585.27 and EMA200 at $63735.87 provide layered support in the prevailing bullish structure; the MACD golden cross at 423.23 confirms trend strength yet neutral RSI at 61.45 leaves room for continuation before any retracement to those EMA levels.