Bitcoin
Bitcoin Consolidates Above $83,000 as Upward Momentum Moderates
Market data indicates Bitcoin is holding above key support while large wallet cohorts return to profitability despite slowing upside momentum.
Bitcoin traded near $85,416, down 0.4%, as it continued to consolidate above the $83,000 support level. Analytics firm Swissblock reported that while an advance toward $87,500 to $90,000 remains possible, recent upward attempts have displayed diminishing momentum, warning that an elevated Risk Index could signal an impending shift in market structure.
On-chain metrics from Glassnode show that large entities have moved back into profit after previously slipping underwater during recent pullbacks. In contrast, smaller wallets have maintained profitability throughout the period, remaining well above their $48,000 cost basis established during the June lows.
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