Bitcoin Price Stalls at $64K Resistance, On-Chain Metrics Indicate Uncertain Recovery

Bitcoin's (BTC) price is currently trading at $63,500, up around +1.5% in the past 24 hours as it digests a fragile rebound off recent lows.

The rebound from a session low near $62,300 has stalled well short of the $66,000 level that Bitcoin failed to hold earlier in the rally.

A Glassnode market pulse report attributed that failure to weak spot demand and persistent net selling, conditions that haven’t materially shifted.

However, one on-chain metric may signal whether this recovery holds or rolls over: the percentage of supply in unrealized loss just bounced back below the 40% deep stress threshold.

This could indicate that sellers aren't completely capitulating, but underwater supply is still heavy, meaning overhead pressure remains.