Blockchain research company Glassnode analysts draw attention to an interesting point despite this uncertainty in the market in a research report they recently published. The report states that the majority of the market is still profitable. The main reason for this is shown to be the existence of long-term investors. How Does?

Long-term investors are investors who aim to hold Bitcoin for a long time. These investors are not affected by short-term price fluctuations and generally aim to buy Bitcoin at higher prices and benefit from the increase in value.

However, this does not work the same way for short-term investors. Glassnode analysts point to the range between $58,000 and $60,000 as a critical threshold for Bitcoin. If this level is exceeded, a “significant number” of short-term investors may suffer losses. Analysts also emphasize that if the Bitcoin price falls below the 200-day moving average price level, it may lead to a negative atmosphere in the market.

The 200-day moving average is an indicator calculated by averaging the closing prices of the past 200 days. This indicator reflects the general trend of long-term investors. If the price falls below this level, it means that even long-term investors may lose confidence.

So, how will Bitcoin overcome this period of uncertainty? Glassnode recommends that investors follow the market closely. According to analysts, moves at key levels such as $64,000 could determine the “next range extension.”

The phrase “range expansion” refers to the widening of the range in which the Bitcoin price trades. For example, the price range currently stuck between $60,000 and $64,000 could expand up or down.

However, Glassnode states that there was a market-wide stagnation before these important level movements. Analysts describe this recession as a period of “apathy and boredom” that has led to “widespread indecision.” Since investors are waiting for a clear move, transaction volume has decreased and an atmosphere of waiting prevails in the market.

Finally, Bitcoin’s historical data may be giving a positive signal. As previously reported on Crypto.news, in previous years there has been an average Bitcoin increase of almost 8% in July following the red candle close in June. This data suggests that July could be positive for Bitcoin investors.

What course will Bitcoin follow in the coming days? Will it manage to stay above $60,000? The answers to these questions are of great importance for both short-term and long-term investors. It may be possible to predict the course of Bitcoin price by closely following market movements in the coming period.