CryptoAug 13, 2026, 7:45 AM

Glassnode Warns of Bitcoin Pullback Risk to $58,500

Glassnode analysts see bitcoin in a compressed state and warn a support break could send price toward the June low near $58,500.

BTCUSD

Glassnode analysts said bitcoin is in a compressed state, with price wedged between the median realized price near $63,000 and the short-term holder cost basis around $68,700.

A move back above the resistance zone would bring recent buyers into profit and would be an initial signal of improving market structure. However, a break of support could see bitcoin retreat toward the June low near $58,500.

If that level fails, analysts pointed to the aggregate realized price around $52,800 as the next lower boundary.

Source: ForkLog

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