Glassnode: Bitcoin Slips Below Short-Term Holder Basis

Glassnode data shows Bitcoin trading below the Short-Term Holder Cost Basis as outflows hit stablecoins, ETFs and US buyers, though two large wallet cohorts have begun accumulating and keep the August trend intact above the June low.

Bitcoin at $74046 sits in a bearish structure with price beneath the EMA50 at $75720.97 and the EMA200 at $79275.76. The RSI at 41.87 registers neutral while the MACD prints a bullish golden cross at -604.75. Price remains inside the Bollinger Bands with upper resistance at $76090.04 and lower support at $72912.89. Traders watch for a test of the upper band resistance before any retracement toward the 50-EMA support zone.