Bitcoin Price Stalls at $65K Amid Selling Pressure from Short-Term Holders

Bitcoin's price has stalled at around $65,000, and its failure to reclaim the short-term holder cost basis leaves it exposed to renewed selling pressure.

The current spot price of $64,952 is about 3.8% below the realized price of short-term holders, which stands at $67,523, according to CryptoQuant analyst Axel Adler Jr.

This gap has been narrowing since July 21, bringing more short-term holders closer to breakeven and potentially triggering selling as they seek to close their positions at a loss.

The 4-hour chart shows Bitcoin trading above the Bollinger Band midline, but momentum indicators suggest a possible test of $65,250 before moving higher or lower.