Bitcoin Shows Signs of Stabilization Near Key Resistance

Bitcoin has been exhibiting signs of stabilization after a prolonged period of losses, according to a recent report by Glassnode. The cryptocurrency's price has risen to near $74,000, which is still 5.2% below the True Market Mean at $78,100. This key resistance level represents the average cost basis of active on-chain supply.

However, Glassnode points out that profit-taking has surged as investors sell into recent price strength. The Realized Profit/Loss ratio has risen to 1.16, indicating a significant increase in selling pressure. Additionally, only 43.2% of Short-Term Holder (STH) supply is currently in profit, which is below the historical average observed at local peaks during bear-market rallies.

The report also notes that demand in the spot market remains uneven, with Binance seeing relatively strong activity from retail and international participants, while Coinbase continues to record more subdued flows. Institutional participation is gradually returning, but at a measured pace, with US Bitcoin ETF flows shifting back into positive territory following recent inflows.