• Bitcoin (CRYPTO:BTC) remains about 15% below Glassnode’s True Market Mean despite recovering from a sharp June selloff.
• Recent Bitcoin buyers are still carrying unrealised losses of around 10%, while capital flows remain negative.
• Glassnode said a stronger recovery would require Bitcoin to reclaim US$77,200, recent buyers to return to profit, and capital inflows to turn positive.

Bitcoin (CRYPTO:BTC) has rebounded from a June selloff but remains about 15% below Glassnode’s True Market Mean of US$77,200, a key on-chain level used to distinguish between bull and bear market conditions.

The recovery followed a decline that pushed Bitcoin to its lowest levels in months amid geopolitical tensions and broader weakness across risk assets, with…