Bitcoin Bottom Signal Returns; Bulls Target $68.5K
Bitcoin bottom signal is back as supply in loss hits 10.46M BTC, a level analysts say has historically coincided with major market bottoms. Glassnode data shows the metric (coins held below purchase price) rose sharply, implying sellers may face fewer incentives to realize losses—though it does not confirm an immediate rebound.
Traders are also watching liquidity structure. New buy walls are forming around $59,400–$61,100, suggesting buyers are defending support after the selloff. On the upside, sell-side resistance appears thinner until the $68,500 area, followed by larger liquidity clusters near $70,000 and $72,000.
Bitcoin bottom signal, combined with stacked support zones, increases the odds of a recovery attempt—if BTC can hold above the newly formed buy-wall region. Otherwise, price may stay range-bound or volatile before any clearer reversal.
Bullish
The article frames a bullish setup via a Bitcoin bottom signal: supply in loss at 10.46M BTC suggests stress is approaching historical bottom-forming zones. In prior cycles, sharp increases in “coins in loss” often precede stabilization because forced selling pressure gradually fades as fewer holders want to crystallize losses.
At the same time, the trade plan is about liquidity: buy walls at $59.4K–$61.1K act as near-term defense, while thinner overhead resistance before $68.5K creates a path for upside momentum if BTC holds that band. However, the piece explicitly warns that this is not confirmation—BTC can still chop or remain volatile until sellers are fully cleared near higher liquidity pools ($68.5K/$70K/$72K).
Short-term implication: watch for repeated holds above the buy-wall zone; breakdown would weaken the bottom signal. Long-term implication: if BTC sustains recovery and the sell walls get absorbed, the market could transition from “stress” to “reaccumulation,” improving downside protection. Overall, the balance of evidence favors a recovery attempt, hence bullish.