Bitcoin’s short‑term holders remain 15 % underwater, a figure that signals many traders entered the market at higher prices and are still waiting for a rebound. The fact that the selling pressure is easing suggests that these traders are holding on for a potential upside rather than liquidating immediately. For retail investors, this means that the market is still in a state of “waiting” rather than “selling,” which can be a sign of cautious optimism.
A key technical level for Bitcoin is the $71,000 mark. If the price can reclaim this level, it would be a strong confirmation that the market is pivoting toward a bullish trend. With BTC currently trading at roughly $64,129 and up 1.16 % in the past 24 hours, the market is showing a modest upward momentum. However, the fear‑greed index sits at 23, classified as “Extreme Fear,” indicating that many participants remain wary of sudden swings.
The broader crypto landscape adds further context. While Bitcoin is showing resilience, other headlines—such as the LAB team’s $11 million token burn, EURC’s record network growth, and the DOJ’s decision to drop prosecution in a $722 million fraud case—highlight the volatility and regulatory uncertainties that can ripple through the market. Retail traders should keep an eye on how these events influence sentiment and whether they create additional selling pressure or provide a catalyst for a rally.
In short, the easing of short‑term selling and the potential breakout at $71,000 are the two main signals to watch. If Bitcoin can hold above that level, it could herald a new bullish phase. If it fails, the short‑term holders may still be underwater, and the market could remain in a cautious stance until further catalysts emerge.