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Bitcoin (CRYPTO: BTC) briefly bounced to $65,000 following the Iran peace deal, but Glassnode’s weekly report shows 95% of recent buyers remain underwater, with the market still in bear territory.
Why Did The Peace Deal Bounce Bitcoin But Not Fix The Chart?
WTI crude fell from $86 to $76 in 48 hours after the June 14 peace deal, draining the geopolitical risk premium that had compressed Bitcoin for three weeks.
Bitcoin recovered from its lows but remains 15% below the True Market Mean at $77,200, the on-chain threshold that separates bear from bull market regimes. Until price reclaims that level, the structural read stays bearish.
The Short-Term Holder MVRV, which measures whether recent buyers are in profit or loss, recovered from 0.81 to 0.90 but stays below the …
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