Glassnode: Bitcoin Short-Term Holders Back Underwater

Glassnode data shows short-term Bitcoin holders slipped back underwater on November 5 after the drop sent about 60% of BTC held by recent buyers below their cost basis, reversing the profit position recorded just one day prior and trimming the immediate risk of capitulation into rallies.

BTC trades at $75970.4 inside the Bollinger Bands with the 50-EMA at $78256.52 and 200-EMA at $80670.32 capping upside, while the MACD death cross at -526.32 keeps the 4-hour structure bearish and RSI at 38.03 leaves room for further downside toward the lower band support at $74266.22 before any sustained recovery attempt.