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Bitcoin steadies around $64,000, Glassnode reports easing sell pressure but no confirmed bottom; spot ETF inflows and large‑wallet activity add context.
Bitcoin hovered at $63,587, staying inside the $63,000‑$65,000 band, while Glassnode’s Seller Exhaustion Constant fell sharply yet remains above historic bottom levels, signalling reduced but not finished sell‑side pressure【1】.
| At a glance | |
|---|---|
| Price | $63,587 |
| 24h change | ~0% (price flat in range) |
| Key level | $65,000 resistance |
| Catalyst | Easing seller exhaustion per Glassnode |
Glassnode’s Seller Exhaustion Constant dropped to about 0.0164 in 2026, a sharp decline from earlier in the year but still above the sub‑0.01 readings that have marked past market bottoms【1】. The metric combines the share of Bitcoin supply in profit (54.6%) with 30‑day price volatility, and its current level suggests forced selling is losing momentum without confirming a durable bottom【2】.
Large‑holder activity rose, with wallets holding 10,000 BTC reaching a six‑month high of 90, a 7.1% increase over eight weeks【1】. This concentration hints at accumulation by long‑term holders, though transfers or custody moves could also explain the shift. Meanwhile, spot Bitcoin ETFs continued to attract inflows after a five‑day streak, despite a $144.67 million outflow on the most recent day, indicating sustained institutional interest even as price stalls【2】.
Bitcoin remains below its 10‑, 20‑, 30‑, and 50‑day EMAs, with the 50‑day EMA near $64,518 and the 100‑day EMA around $66,672, forming a broad resistance band above current levels【1】. Momentum indicators such as RSI (≈47) and Stochastic %K (≈46) sit near the mid‑range, while ADX (≈11) points to weak trend strength, reinforcing a consolidation phase rather than a decisive move up or down【1】.
The market’s current stance shows sellers tiring, yet the lack of a confirmed bottom leaves Bitcoin’s trajectory open, hinging on whether price can breach the $65,000 ceiling and whether on‑chain metrics continue to improve.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Aug 17, 2026 · How we report
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