​​Microsoft has released the KB5064081 preview cumulative update for Windows 11 24H2, which includes thirty-six new features or changes, with many gradually rolling out. These updates include new Recall features and a new way of displaying CPU usage in Task Manager.

The KB5064081 update is part of the company’s optional non-security preview update schedule, which releases updates at the end of each month to test new fixes and features coming to the next month’s  Patch Tuesday.

Unlike regular Patch Tuesday cumulative updates, monthly non-security preview updates do not include security updates and are optional.

You can install the KB5064081 update by opening Settings, clicking on Windows Update, and then “Check for Updates.”

Because this is an optional update, you will be asked if you want to install it by clicking the “Download and install” link unless you have the “Get the latest updates as soon as they’re they’re available” option enabled, which will cause the update to automatically install.

You can also manually download and install the KB5064081 preview update from the Microsoft Update Catalog.

Windows 11 KB5064081 highlights

Once installed, this optional cumulative release will update Windows 11 24H2 systems to build 26100.5074.

The August 2025 preview update features numerous new additions that are gradually rolling out, including an updated method for displaying CPU workload metrics in Task Manager.

For years, Windows Task Manager’s Processes tab displayed CPU usage using a “Processor Utility” metric, which could display confusing or incorrect results.

The method ignored the number of cores a processor had, so a single, maxed-out core on a 16-core CPU could show overall usage at 100%. It also compared workload against the chip’s base clock speed rather than its actual operating frequency, so when turbo boost pushed cores above their regular speed, usage could spike beyond 100% and then get clipped in the display.

These quirks meant the numbers shown in the Processes tab usually did not match what was displayed in the Performance or Users tabs, or within third-party monitoring tools.

According to WindowsLatest, Microsoft has now standardized CPU reporting throughout Task Manager, with the Processes tab now using the same formula already used in the Performance and Users tabs.

The new CPU load is calculated as:

(Δ Process CPU Time) ÷ (Δ Elapsed Time × Logical Processors)

This updated CPU utilization formula is now rolling out with this update.

For users who prefer the legacy view, Microsoft has added an optional “CPU Utility” column in the Details tab. However, by default, Task Manager will now show consistent CPU metrics across the entire application.

The complete list of changes that are gradually rolling out includes:

• [Recall] New! Recall opens to a personalized homepage that puts your recent activity and top-used apps and websites front and center, making it easy to pick up where you left off. After turning on snapshot collection, the homepage highlights key productivity features like Recent Snapshots, which show the latest snapshots to help you quickly resume tasks, and Top Apps and Websites, which display the three apps and websites you’ve used most in the past 24 hours. You can set filters in Settings to control which apps and websites are saved in snapshots. A new navigation bar on the leftmost side of the screen provides quick access to Home, Timeline, Feedback, and Settings.

• [Click to Do] New! When you launch Click to Do for the first time, you’ll see a quick interactive tutorial. It shows how to complete tasks faster by demonstrating actions on both text and images—such as summarizing large blocks of text or removing image backgrounds. To revisit the tutorial later, select More options  > Start tutorial.

• [General] New! When an app requests access to location, camera, microphone, or other device capabilities, Windows shows a redesigned system dialog box. To emphasize the privacy prompt, the screen dims slightly, and the prompt appears at the center of the screen.

• [Taskbar] 

  • New! The larger clock with seconds is now back in the notification center, displayed above the date and calendar. To turn this option on, go to Settings > Time & language > Date & time, and turn on Show time in the Notification Center.

  • Fixed: If you accidentally click and drag your mouse across the taskbar preview thumbnail, the preview might stop working.

• [Search on the Taskbar]

  • New! When you use Search from the Windows taskbar, a new grid view will help you more quickly and accurately identify the desired image within your search.

  • New! Search on the taskbar now provides clearer status information. If your search results are incomplete while your PC is organizing files in the background, Windows shows a notice with a link to check progress. You can dismiss the notice when you’re done. There is also a status for files and folders, so you can easily tell whether they’re available online (cloud) or stored on your device.

• [Lock screen] New! More widget options and support for lock screen widget personalization (previously referred to as “Weather and more”) are rolling out. After initial launch with Windows Insiders in the European Economic Area (EEA), these updates are expanding to all regions. You can add, remove, and rearrange lock screen widgets such as Weather, Watchlist, Sports, Traffic, and more. Any widget that supports the small sizing option can be added. To customize your lock screen widgets, go to Settings > Personalization > Lock screen.

• [File Explorer] ​​​​​​​

  • New! Dividers now separate top-level icons in the File Explorer context menu.

  • New!​​​​​​​ When you’re signed in with a work or school account (Entra ID), File Explorer will display people icons in the Activity column and the Recommended section at the top of File Explorer Home. Hover over or select a person’s icon to open their Microsoft 365 Live Persona Card, which shows who they are and how they’re connected to the file.

  • Fixed: If you try to use the unblock open in Properties for a file, it still shows as blocked when you open Properties the next time.

• [Windows Hello]

  • New!​​​​​​​ As part of the enhanced passkey features released in September 2023, you’ll see a redesigned Windows Hello interface. These modernized visual updates support fast, clear communication that appear across multiple authentication flows, including the Windows sign-in screen, passkey, Recall, the Microsoft Store, and more.

     The Windows security credential experience for passkey offers a cleaner, more intuitive interface designed to support fast, secure sign-in. You can now easily switch between authentication options such as passkeys or connected devices.

  • Fixed: Windows Hello might recognize your face on the login screen, however it would still fail and then prompt you to enter your pin. If you continue experiencing issues, you might need to go to the Facial Recognition section under Settings > Accounts >Sign-in options and select Improve recognition.

  • Improved: Fingerprint login after standby is now more robust.

• [Settings] 

  • New!  Windows activation and expiration prompts match the Windows 11 design and appear as system notifications when action is required. There also have been improvements to messaging under Settings > System > Activation.

  • New! You can go to Settings > Privacy & security > Text and Image Generation to see which third-party apps have recently used generative AI models provided by Windows. You can also choose which apps are permitted to use them—putting you in charge of your device’s AI experience.

  • New! As part of the Copilot+ PC experience, the agent in Settings helps you quickly find and change settings. Initially available on Snapdragon®-powered Copilot+ PCs, agent in Settings now supports AMD- and Intel-powered Copilot+ PCs. It currently works only when your primary display language is set to English.

  • Fixed: Settings might crash if you attempt to add a security key under Settings > Account > Sign-in options.

• [Task Manager] New! Task Manager now uses standard metrics to show CPU workload consistently across all pages, aligning with industry standards and third-party tools. If you prefer the previous view, you can enable a new optional column called CPU Utility in the Details tab to display the earlier CPU usage value shown on the Processes page.

• [Widgets]

  • ​​​​​​​​​​​​​​New! Multiple dashboards are now available in your Widgets Board. This gives you more space for your favorite widgets and helps you stay informed with a feed that connects you to current events. A new navigation bar on the left side makes it easy to switch between your widget’s dashboard and other views like the Discover feed. After initial launch in the EEA, these updates are expanding to all regions.

  • New!  A new visual experience is available for the Discover feed on the Widgets Board. The layout is more organized, personalized, and engaging. Copilot-curated stories are now included, offering a well-rounded view of each topic with summaries, videos, and images from trusted MSN premium publishers. To customize your feed, go to Widgets > Discover dashboard > Personalization settings.

• [Windows Backup for Organizations] New!​​​​​​​ Windows Backup for Organizations is now generally available! Experience seamless device transitions with enterprise-grade backup and restore. Whether you’re refreshing your organization’s devices, upgrading to Windows 11, or deploying AI-powered PCs, this solution helps sustain productivity with minimal disruption, ensuring business continuity and organizational resilience.

• [PowerShell 2.0] Starting in August 2025, Windows 11, version 24H2, will no longer include Windows PowerShell 2.0. This legacy component was introduced in Windows 7 and officially deprecated in 2017. Most users won’t be affected, as newer versions such as PowerShell 5.1 and PowerShell 7.x remain available and supported. If you use older scripts or tools that depend on PowerShell 2.0, update them to avoid compatibility issues.

• [Live captions] Fixed: Changing the opacity of live captions in Settings > Accessibility > Captions > Caption Style, has no effect.

• [Input]  

  • Fixed: Attempting to type Chinese with an IME after copying something with CTRL + C can result in the first character not displaying.

  • Fixed: An underlying issue related to textinputframework.dll could result in certain apps like Sticky Notes and Notepad crashing.

• [dbgcore.dll] Fixed: An underlying issue with dbgcore.dll could result in certain apps, including explorer.exe, crashing.

• [Kerberos]​​​​​​​ Fixed: There might be an underlying crash in Kerberos when attempting to access a cloud file share.

• [Login] Improved: Addressed some underlying cases which could lead to you seeing a blank white screen, or a screen saying, “just a moment”, for a few minutes when logging into your PC.

• [Miracast] Fixed: An issue where, on certain devices, audio would initially play but stop a few seconds after casting to a TV.

• [Audio] Improved: Addressed an underlying audio service stops responding which could impact the ability to play audio in certain cases.

The good news is that some fixes or improvements in the KB5058502 update are available immediately:

• [Device management] Fixed: This update addresses an issue that prevented some system recovery features from working properly due to a temporary file sharing conflict. This affected certain device management tools and disrupted key functions on some devices.

• [File system]​​​​​​​ Fixed: An issue in Resilient File System (ReFS) where using backup apps with large files could sometimes exhaust system memory.

• [Input]  

  • Fixed: This update addresses an issue with the Chinese (Simplified) Input Method Editor (IME) where some extended characters appear as empty boxes.

  • [Fixed This update addresses an issue that prevents typing on the touch keyboard when using the Microsoft Changjie, Microsoft Bopomofo, or Microsoft Japanese Input Method Editors (IMEs). The issue occurs after switching to a previous version of the IME.

• [Performance] Fixed: This update addresses an issue that slows application installation on ARM64 devices. Some installers might take longer to complete.

Microsoft reports two known issues with this release: a bug that causes incorrect CertificateServicesClient (CertEnroll) errors to appear, and lag/stuttering in audio and video performance when using Network Device Interface (NDI) to stream or transfer feeds between PCs.

The company is now rolling out a fix for the CertificateServicesClient (CertEnroll) errors , but it is gradually rolling out over the next four weeks. 

The full release notes for KB5064081 can be found in this support bulletin.

Analysts are increasingly calling for the start of altseason as Ethereum posts massive gains and a wave of altcoins surges across the market. Over the past days, bullish momentum has pushed many digital assets higher, with price structures showing clear signs of strength. For many traders, this is the moment they’ve been waiting for—the long-anticipated shift where altcoins outperform Bitcoin and deliver outsized returns.

Related Reading

Ethereum’s recent breakout above key resistance levels has added fuel to the narrative, with large-cap and mid-cap altcoins following in its footsteps. The market’s renewed optimism has sparked speculation that the altseason cycle, where capital rotates from Bitcoin into the broader altcoin market, may already be underway.

However, not all experts are convinced. Some point to Bitcoin’s continued dominance and the fact that most altcoins remain well below their all-time highs as reasons for caution. Historical altseasons have typically seen aggressive outperformance across the board, something the market has yet to fully confirm.

Altseason Still Waiting For Its True Breakout

According to top analyst Darkfost, the much-anticipated altseason hasn’t truly begun. By examining a comparative chart of Bitcoin, large caps (top 20), and mid/small caps, Darkfost notes that the current cycle is showing the weakest altcoin performance so far. While altcoins have made notable moves in recent weeks, their gains still pale in comparison to Bitcoin’s dominant run.

The last instance that resembled a genuine altseason occurred in early 2024, when altcoins—particularly mid- and small-cap projects—outpaced Bitcoin over a short but intense period. That surge marked a clear capital rotation away from BTC into the broader market, delivering outsized returns for altcoin holders. However, the present market conditions suggest that kind of broad-based outperformance has yet to materialize.

Even though Ethereum has broken above multi-year highs and several altcoins are posting impressive gains, the rally appears selective rather than widespread. Large caps are recovering steadily, but mid- and small-cap coins—often the hallmark of an explosive altseason—are still lagging. This disparity suggests that institutional and retail capital remains concentrated in more established assets.

For a confirmed altseason, analysts will be watching for a sustained breakout in mid- and small-cap performance relative to BTC. Until that shift occurs, the current market may be better described as a strong altcoin rally within Bitcoin’s dominant phase rather than the start of a full-scale altseason.

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Altcoin Market Nears Key Resistance

The Total Crypto Market Cap excluding Bitcoin (TOTAL2) is showing strong bullish momentum, currently sitting at $1.57 trillion after a sharp 13.21% weekly surge. This rally brings the market close to retesting its 2025 highs around the $1.6 trillion level, a critical resistance zone that has capped altcoin gains in previous attempts.

The chart reveals that the market has been in a sustained uptrend since early 2024, with price action consistently holding above the 50-week moving average (blue line) and maintaining bullish structure. Both the 100-week (green) and 200-week (red) moving averages are trending higher, reinforcing long-term support and signaling healthy market conditions.

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If the breakout occurs, TOTAL2 could target the previous all-time high zone near $1.75–$1.8 trillion, marking a potential acceleration in capital rotation from Bitcoin into altcoins. Conversely, failure to clear this resistance could lead to a short-term pullback toward $1.4 trillion support, which aligns with the 50-week MA. The coming weeks will be crucial for determining whether altseason truly ignites.

Featured image from Dall-E, chart from TradingView

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Ethereum has managed to diverge from the broader crypto market trend, posting gains while the overall market experienced a drop in capitalization.

Over the past 24 hours, the global crypto market fell by 5.3%, yet Ethereum registered a 2.4% increase, currently trading around $3,719. This move has drawn renewed interest from analysts, particularly as on-chain data suggests shifting trader sentiment and positioning.

Short Squeezes and Whale Activity Shape Ethereum’s Recent Rally

Amr Taha, a contributor on CryptoQuant’s QuickTake platform, highlighted the significance of Ethereum’s recent price action. Taha noted that a sudden breakout above $3,700 resulted in over $160 million in short positions being liquidated on Binance.

This event followed an earlier wave of $195 million in short liquidations near the $3,500 mark, pointing to a pattern of cascading short squeezes. As short-sellers rushed to cover their positions, this led to additional upward price momentum, at least temporarily.

Taha also observed a notable divergence in whale activity across assets. According to data from the Whales Screener, there was a net inflow of over $300 million worth of Bitcoin to centralized exchanges. At the same time, over $300 million in stablecoins was withdrawn from exchanges.

This combination may reflect a cautious outlook, as whales potentially prepare to sell Bitcoin while simultaneously reducing available liquidity for immediate buy-side activity.

Taha cautioned that such short squeezes can result in brief periods of elevated prices, often followed by consolidation or correction.

He identified several signs suggesting potential short-term headwinds: a drop in open interest following the liquidation cascade, whale deposits of BTC possibly in preparation for selling, and reduced exchange balances of stablecoins indicating limited new capital entering the market. “These conditions combined could contribute to a pullback if fresh inflows don’t materialize,” Taha wrote.

ETH’s Outlook as Market Enters Second Half of 2025

In a separate analysis, another CryptoQuant analyst Crypto Dan provided a broader perspective on Ethereum’s trajectory. While acknowledging that the recent price surge may introduce short-term correction risk, Dan argued that market indicators suggest this would likely be limited in scope.

Comparing current conditions to historical futures market overheating in March and November 2024, Dan pointed out that current leverage and sentiment levels remain relatively muted.

He also noted that Ethereum’s performance has been restrained throughout this upcycle, even reaching undervalued levels at times. This could indicate that the asset still has room to rise, especially in the second half of 2025.

If Ethereum continues to climb, Dan suggested it could also serve as a catalyst for altcoin activity, given their tendency to follow ETH movements in bull phases.

Featured image created with DALL-E, Chart from TradingView

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Bitcoin investment can be as simple or complicated as your choice. However, by utilizing some free and powerful metrics, investors can gain a significant advantage over the average market participants. These tools are available for free and simplify on-chain analysis and help remove emotional decisions.

Cap-Follow Wave

The realized cap HODL Waves metric is one of the more subtle tools in the on-chain toolbox. Analyze realize prices, which are the average cost-based basis of all Bitcoin held on the network, and break them down by age band. A set of a fairly old band is a coin held within three months. Dominating the realised cap by this segment shows a new flood of capital entering markets that are normally driven by retail FOMOs. The historic peaks of these young holdings, often shown in warm colors on the charts, coincides with the tops of major markets such as late 2017 and 2021.

Conversely, when the impact of short-term holders is low, they generally match the bare market bottom. These are periods where there are few new buyers in, emotional darkness and prices are deeply discounted. This metric visually strengthens the opposite strategy and can be purchased when others sell when they are scared and greed controls.

Multi multi

Puell Multithip helps to assess miners’ feelings by comparing current daily revenue (USD) with block compensation and fees against a yearly average. High values indicate that miners are highly profitable, while lower values indicate distress and potentially signaling underestimation.

During the previous cycle, low Puer multiples were a great opportunity for accumulation, as it coincides with a time when even miners struggle to maintain profitability, even at high costs and operational risks. This serves as an entry signal for economical floors and high confidence.

MVRV Z Score

The MVRV Z-score is perhaps the most widely recognized metric in the Chain Armory. Standardize the ratio of market value (current price multiplied by circular supply) and realised value (average cost-based or realised price) and normalize it across the unstable history of Bitcoin. This Z-score identifies extreme market conditions and provides a clear signal for the top and bottom.

Historically, a Z-score above 7 indicates the euphoric market situation ripe for the local top. Z-scores below zero often coincide with the most attractive accumulation period. Like any other metric, do not use it alone. This metric is very effective when combined with some of the other discussed in this analysis for confluence.

Funding rate

Bitcoin’s funding rate reveals the sentiment of leveraged futures traders. Positive funding means that Long is paying for shorts, suggesting bullish bias. Very high funds often coincide with euphoria and precede the revision. Conversely, negative funding can show fear and precede a sharp gathering.

Traders are putting BTC directly at risk, so the funding rates that coins have removed provide a more pure signal than the USD pair. Spikes in either direction often show the opposite opportunity, warning that high speeds will overheat and low or negative rates are suggested at the bottom.

Soplan

Used Output Profit Rate (SOPR) tracks whether a coin has moved on-chain. A read above zero means that the average coin moved has been sold with profit. Below zero suggests realised losses.

A sharp downward spike indicates surrender and investors are trapped in losses. These often mark fear-inducing sales and major purchase opportunities. Sustained measurements of SOPR above zero can indicate an upward trend, while excessive profit acquisitions can indicate an overheated market.

Conclusion

By layering these metrics, investors gain a multidimensional view of the situation in the Bitcoin market by layering CAP HODL Waves, Puell Multithip, MVRV Z-Score, funding rates, and SOPR. A single indicator does not provide all the answers, but joining between several improves the probability of success. Whether you’re accumulating in the bear market or distributing it near potential tops, these free tools can help you remove emotions and follow your data to dramatically improve the edge of the Bitcoin market.

Did you love the price dynamics of Bitcoin on this deep dive? For more expert market insights and analysis, subscribe to Bitcoin Magazine Pro on YouTube!

For more in-depth research, technical metrics, real-time market alerts, and access to expert analytics, visit bitcoinmagazinepro.com.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making an investment decision.

New data from the market intelligence firm Glassnode suggests that Bitcoin (BTC) could be nearing an early bear market.

In a new thread on the social media platform X, Glassnode says that the crypto king is flashing signs that historically predate its entering into a bearish phase.

According to the crypto analytics platform, short-term holders hanging on to unrealized losses relative to BTC’s current price are analogous to the early bear market conditions present during Bitcoin’s previous cycles.

“Bitcoin unrealized losses normalized by percentage drawdown show that short-term holders are already holding substantial losses relative to the current correction depth – comparable to early bear market conditions in past cycles.”

Glassnode goes on to note that while long-term holders are in profit, market conditions could cause them to see their profits dwindle, another sign of an upcoming bearish phase.

“On the other hand, long-term holders (LTH) are still broadly in profit, but as BTC top buyers age into LTH status, loss absorption may rise. Historically, this shift often marked the confirmation of a bear market, though no such regime is evident yet.”

Short-term Bitcoin holders are traders who have held on to their tokens for less than 155 days, while long-term holders are defined as those who have kept their digital assets inactive for 155 days or longer.

According to Glassnode, one metric, which measures the directional dominance of value flowing in or out of a network, shows that the top crypto asset by market cap is at a crucial crossroads in terms of market direction.

“Meanwhile, volatility-adjusted net realized profit/loss for BTC has reverted to its long-term median. This historically marks the boundary between bull and bear regimes, placing the market at a critical juncture for determining direction.”

Bitcoin is trading for $84,557 at time of writing, a fractional decrease during the last 24 hours.

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Ethereum is trading above the $1,600 mark after a turbulent period marked by heightened volatility and growing uncertainty surrounding global trade policies. As US President Donald Trump’s tariff measures continue to shake investor sentiment, crypto markets have struggled to find direction. Ethereum, like the broader market, is attempting to stabilize after weeks of aggressive selling pressure and macroeconomic headwinds.

Related Reading

Despite signs of weakness, bulls are now trying to regain control. However, price action still suggests the downtrend may not be over yet. ETH must reclaim key levels to confirm short-term momentum for any meaningful recovery to unfold. Until then, caution dominates the market outlook.

Glassnode data provides a hopeful perspective for Ethereum bulls. According to on-chain metrics, the most critical support level currently sits at $1,546.55—where whales accumulated over 822,440 ETH. This level could serve as a strong foundation for a bounce if tested again, as historically, zones with heavy accumulation tend to attract renewed buying interest.

The coming days will be crucial for Ethereum’s trajectory. Holding above this support while pushing into higher resistance could be the catalyst needed to reignite bullish sentiment and reverse recent losses.

Ethereum Tests Key Resistance As Bulls Eye Recovery

Ethereum has surged more than 20% since last Wednesday’s low near $1,380, generating renewed optimism among investors hoping for a broader market recovery. Currently trading around key resistance levels, ETH appears to be forming a base for a potential breakout that could mark the beginning of a new upward phase. However, the path forward remains uncertain as global macroeconomic conditions continue to weigh heavily on market sentiment.

Growing speculation of a policy shift following US President Donald Trump’s announcement of a 90-day tariff pause for all countries except China sparked the recent surge. This decision triggered a temporary risk-on sentiment across global markets, with cryptocurrencies benefiting from the momentum. Still, concerns about long-term US foreign policy and lingering trade tensions have left many investors cautious.

While some analysts believe that Ethereum has already priced in the worst of the selloff, others warn that we may only be in the early stages of a broader bear cycle. Despite the divergence in outlooks, on-chain data suggests that a major support level has formed.

According to analyst Ali Martinez, the most critical support for Ethereum sits at $1,546.55—an area where more than 822,440 ETH were previously accumulated. This level is being closely monitored as a potential pivot zone. If bulls can maintain price action above this threshold and successfully push through current resistance, it could trigger a strong continuation rally and restore confidence in the altcoin market.

Until then, Ethereum remains at a crossroads, with the next move likely to be shaped by a combination of market momentum, geopolitical developments, and investor conviction.

Related Reading

ETH Price Struggles at Resistance: Bulls Must Reclaim $1,875

Ethereum is trading at $1,630 after setting a fresh 4-hour high around $1,691, slightly above the previous local peak. The short-term price structure suggests that bulls are trying to regain momentum, but the recovery remains uncertain without a clear breakout above key resistance levels. For Ethereum to confirm a true reversal and enter a bullish recovery phase, it must reclaim the $1,875 level — a zone that aligns with both the 4-hour 200-day moving average (MA) and exponential moving average (EMA).

This critical level has acted as a major barrier since the downtrend began, and breaking above it would signal a shift in trend and market sentiment. However, failing to push beyond this range could send ETH back to retest the $1,500 support zone or even lower.

Related Reading

The $1,600 level now acts as a key psychological and technical threshold. Holding above it is essential for bulls to keep short-term momentum alive and prevent another sharp selloff. As macroeconomic uncertainty and market volatility continue, Ethereum’s next move depends heavily on whether bulls can defend current support and build enough strength to break above the $1,875 resistance zone.

Featured image from Dall-E, chart from TradingView 

Bitcoin has seen a crash to the $87,000 level in the past day, but if on-chain data is to go by, the plunge could get much deeper.

Bitcoin Has Lost An Important Support Level With The Crash

In a new post on X, the on-chain analytics firm Glassnode has discussed about how some Bitcoin indicators have changed following the plunge in the cryptocurrency’s price.

Related Reading

The first metric that the analytics firm has shared is the Realized Price of the short-term holders. The “Realized Price” keeps track of the cost basis of the average investor or address on the BTC network.

When the spot price of the asset is trading above this indicator, it means the investors as a whole can be considered in a state of profit. On the other hand, it being under the metric implies the dominance of loss in the market.

In the context of the current topic, the Realized Price of only a segment of the userbase is of interest: the short-term holders (STHs), who refer to the investors who purchased their coins within the past 155 days.

Now, here is a chart that shows the trend in the Bitcoin STH Realized Price over the last few months:

As displayed in the above graph, Bitcoin was trading above the STH Realized Price during the last few months, meaning the STHs were enjoying profits, but with the latest crash, the situation has flipped.

The STH Realized Price is equal to $92,500, so at the current spot price, the members of this cohort would be carrying an average loss of more than 6%. “A failure to reclaim STH cost basis could mean continued sell pressure from recent buyers,” notes Glassnode.

As for how far BTC could fall from here, perhaps historical pattern could hold a hint. According to the analytics firm, the post-ATH corrections of May 2021, November 2021, and April 2024 all saw BTC fall one standard deviation below the STH Realized Price.

At present, this price band is situated between $71,000 and $72,000. If the past pattern is to go by, it’s possible that this correction may also lead Bitcoin to near this band.

Related Reading

The Cost Basis Distribution, another metric related to investor cost basis, also highlights this same level as being important for the cryptocurrency.

From the chart, it’s apparent that a substantial amount of investors have their cost basis at various zones above $87,000. Under this mark, however, very few addresses bought their coins, until the same $71,000 to $72,000 band. “This could mean weaker support in this range, giving bears more control,” explains the analytics firm.

BTC Price

At the time of writing, Bitcoin is floating around $87,200, down more than 7% over the last week.

Featured image from Dall-E, Glassnode.com, chart from TradingView.com

Bitcoin has experienced a quiet weekend, following the massive volatility seen last week. The price has remained indecisive, closing around the $96,500 mark for five consecutive days. Bulls have lost control, unable to reclaim the $100K level, while bears struggle to push the price into lower demand zones. This tug-of-war highlights the uncertainty in the market as both sides fail to establish a clear direction for Bitcoin.

Key metrics shared by Glassnode reveal an intriguing divergence in market behavior. Bitcoin’s market cap peaked at $2.1 trillion on January 21, while altcoins (excluding Ethereum and stablecoins) reached their peak earlier, at $1.03 trillion on December 8. Since these peaks, altcoins have shown greater weakness, with a significant decline compared to Bitcoin’s relatively stronger performance. This divergence suggests a shift in capital preference, with investors favoring BTC during these uncertain times.

Bitcoin’s relative strength amid market volatility has reignited hope among investors, with many anticipating a potential recovery in the coming weeks. However, the price must break out of its current range to establish a clearer trend. For now, the market remains in a consolidation phase, leaving traders and analysts watching key levels closely for the next big move.

Bitcoin Leads The Market Amid Uncertainty

Bitcoin continues to lead the market amid ongoing volatility and uncertainty, holding strong above key demand levels while most altcoins face significant declines. Despite the challenges, bulls have successfully maintained Bitcoin above the crucial $90K level, preserving its bullish structure. However, the price action suggests a lack of clear direction in the short term, with market participants bracing for further volatility.

Key metrics shared by Glassnode on X highlight an important divergence in market dynamics. Bitcoin’s market cap reached its peak of $2.1 trillion on January 21, while altcoins (excluding Ethereum and stablecoins) hit their peak earlier, at $1.03 trillion on December 8. Since these peaks, Bitcoin’s market cap has declined by only 8.2%, while altcoins have dropped by a staggering 29.8%. This divergence underscores a shift in capital preference, as investors appear to favor BTC over riskier altcoins during uncertain market conditions.

This capital rotation into Bitcoin demonstrates its resilience and perceived safety compared to the broader crypto market. With altcoins struggling to find support and BTC maintaining its footing above crucial levels, the market sentiment is increasingly tilted toward BTC as the dominant asset.

However, for bulls to regain full control, Bitcoin must reclaim the $100K mark and establish a stronger trend above its current range. Until then, the market remains in a consolidation phase, leaving traders to monitor key levels closely for a potential breakout.

BTC Struggles To Reclaim $100K

Bitcoin is trading at $97,750 after days of ranging between $94,600 and $100,000. The market remains in a state of indecision, with short-term direction still unclear. Bulls have struggled to push the price above the $100K mark, a key psychological and technical level, while bears have been unable to hold BTC below the $95K level, signaling strong support at this range.

For bulls to regain momentum and confirm a short-term reversal, the $98K mark must be reclaimed as support, followed by a decisive push above the $100K level. Breaking and holding above $100K could signal the beginning of a new rally, setting the stage for a test of all-time highs and potentially higher levels in the coming weeks.

On the downside, if BTC loses the $95K level, the price could fall further into lower demand zones around $90K, where strong support may be tested. This would likely trigger increased volatility as bulls and bears battle for control of the market.

With both sides of the market showing resilience, the coming days will be crucial in determining Bitcoin’s short-term trend. Investors and traders are closely monitoring these key levels for a clearer signal of where the market is heading next.

Bitcoin is trading below the $100K mark after a rollercoaster of a week, marked by intense volatility and sustained selling pressure. Last Sunday, the cryptocurrency faced extreme market turbulence, dropping over 9% in less than 24 hours. While BTC managed a recovery bounce on Monday, the selling pressure has not subsided, leaving the market uncertain about its next direction.

Amid this turbulent price action, key metrics highlight a critical relationship between Bitcoin’s performance and demand growth. CryptoQuant’s Head of Research, Julio Moreno, shared insights on X, revealing that Bitcoin’s price return is closely tied to its demand growth. Moreno emphasized that slowing demand since early December has directly correlated with diminished returns, underscoring the crucial role of market participation in sustaining bullish momentum.

This observation sheds light on the current state of the market, where declining speculative appetite and weakening leveraged positions are contributing to choppy price action. As Bitcoin hovers below the $100K mark, both bulls and bears are locked in a battle for control, with demand growth serving as a pivotal factor in determining the cryptocurrency’s trajectory. With market participants closely monitoring these dynamics, the coming days could prove decisive for BTC’s short-term and long-term outlook.

Bitcoin Demand Declines As Investors Fear A Correction

Bitcoin has faced significant volatility and selling pressure since the start of February, sending ripples through the broader crypto market. Altcoins and meme coins, often more vulnerable during bearish trends, have experienced even sharper price drops, amplifying uncertainty among investors. Analysts are increasingly signaling a potential correction, citing tired bulls and bearish price action that hints at further declines.

Moreno provided key insights on X, linking Bitcoin’s price performance directly to demand growth. According to Moreno, Bitcoin’s price return closely follows the trajectory of its demand growth.

Since early December, demand growth has been slowing, which aligns with the weakening momentum in Bitcoin’s gains. Moreno emphasizes the importance of monitoring demand growth as a critical indicator to predict Bitcoin’s next rally.

Currently, Bitcoin’s price is hovering around $96K as bulls struggle to reclaim and hold the psychological $100K mark. This level is not only a critical point of resistance but also a major factor in determining short-term market sentiment.

Without a breakout above $100K, BTC remains vulnerable to additional selling pressure and a potential drop to lower demand zones. However, reclaiming this level and holding it as support would signal a shift in momentum, paving the way for a potential rally.

BTC Price Showing Indecision

Bitcoin is currently trading at $96,700 after several days of sideways price action between $100,000 and $95,600. The market appears stuck in a range, with no clear short-term direction as both bulls and bears struggle for control. Bulls lost their grip on momentum after the price fell below the crucial $100K level last Tuesday, and they have been unable to reclaim it since.

The lack of upward movement has raised concerns among investors, as Bitcoin’s inability to break above $100K could signal growing weakness in the market. Meanwhile, bears have been applying consistent pressure, but they have yet to force the price below the critical $95K support level.

If Bitcoin drops below $95K in the coming days, a further decline into the $90K demand zone is likely. This would mark a significant bearish move and could lead to increased selling pressure as investors grow wary of a deeper correction.

However, if BTC can maintain its position above $95K, there is still potential for bulls to regain strength and push the price back toward the $100K mark. For now, the market remains uncertain, and traders are closely monitoring these key levels for signs of the next major move.

Featured image from Dall-E, chart from TradingView