It fell to $29,000 on July 24, indicating that bears are trying to take control. It appears that failure to hold on to higher levels may tempt the short-term bulls to take profits and the bears to initiate short positions.
Although the near-term looks bearish, long-term investors remain unfazed, and continue to hold their positions. Glassnode data shows that Bitcoin (BTC) Long term stand supply Achieve a new high 14.52 million bitcoins, “equivalent to 75% of the circulating supply.”
Read on at Coin Telegraph