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Bitcoin drops below $65K amid reinforced bear market signals
Bitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean. Glassnode noted that a key shift in market structure has also emerged. The Short-Term Holder (STH) cost basis has now fallen below the True Market Mean for the first time since January 2022, signaling weaker conviction among newer investors. "This configuration indicates that new buyers are accumulating below the market's key mean valuation level, a hallmark of a ... (full story)