Bitcoin price held near $65,000 on Aug. 8, but its failure to reclaim the short-term holder cost basis left the recovery exposed to renewed selling.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to data from crypto.news, Bitcoin (BTC<\/a>) price was trading near $65,015 at the time of writing after repeatedly testing the $65,000 area. The daily candle had traded between $64,784 and $65,075, showing limited volatility following the rebound from its late-July lows.<\/p>\n The price has recovered from an Aug. 2 low near $62,200, but sellers continue to defend the area immediately above $65,000. In an Aug. 8 X post, analyst Ted Pillows said Bitcoin had failed to establish a firm hold above that threshold.<\/p>\n \u201cBTC failed to hold above the $65,000 level. Sellers are still active in this zone, and Bitcoin needs to reclaim it for stronger upside.\u201d<\/p>\n<\/blockquote>\n The daily chart shows BTC trading above its 20-day and 50-day simple moving averages at $64,461 and $63,363, respectively. Those averages form an initial support zone between approximately $63,300 and $64,500.<\/p>\n Bitcoin remains below its 100-day SMA at $68,052 and its 200-day SMA at $70,295. That structure shows that the short-term recovery has not yet reversed the broader downtrend that began after BTC reached approximately $82,000 in May.<\/p>\n <\/p>\n CryptoQuant analyst Axel Adler Jr. said Bitcoin remained below the realized price of short-term holders, which measures the average acquisition price of coins held for less than 155 days.<\/p>\n As of Aug. 8, Adler placed the short-term holder realized price at $67,523, compared with a BTC spot price of $64,952. That left Bitcoin $2,571, or 3.8%, below the cost basis.<\/p>\n Bitcoin is trading below the short-term holder (STH) cost basis \u2013 the average acquisition price of coins less than 155 days old.<\/p>\n As of August 8, 2026, Bitcoin is trading at $64,952, while the STH Realized Price stands at $67,523. Spot is 3.8% below this level, a gap of $2,571.\u2026 pic.twitter.com\/bMBXKMMbYu<\/a><\/p>\n \u2014 Axel \ud83d\udc8e\ud83d\ude4c Adler Jr (@AxelAdlerJr) August 8, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n The gap was the narrowest since July 21, bringing more short-term holders closer to breakeven. Investors who bought above the current price may use a recovery toward $67,500 to reduce exposure without taking a large loss.<\/p>\n Adler said Bitcoin had closed below the short-term holder realized price during 279 of the previous 284 days. He expects selling pressure to increase as the market approaches the cost line.<\/p>\n \u201cSTHs will start dumping into the market to close their positions at breakeven.\u201d<\/p>\n<\/blockquote>\n The forecast is not guaranteed, but the cost basis creates a visible resistance area. Bitcoin would need to absorb potential holder selling and establish support above $67,523 to improve the medium-term structure.<\/p>\n The 4-hour chart offers a more constructive short-term picture. Bitcoin is trading above the Bollinger Band midline at $64,647 and close to the upper band at $65,257.<\/p>\n A 4-hour close above the upper band could support a move toward $65,600, followed by $66,000. The next major resistance would sit around the short-term holder cost basis between $67,500 and $67,600.<\/p>\n The relative strength index stood at 61.83, above its moving average of 59.25. That reading shows buyers currently have the momentum advantage without pushing BTC into overbought territory.<\/p>\n Momentum on the daily timeframe remains less decisive. Aroon Up stood at 50%, while Aroon Down was at 14.29%. The difference favors buyers, but the moderate Aroon Up reading does not yet confirm a strong daily uptrend.<\/p>\n BTC must first turn $65,000 into support and clear the $65,250\u2013$65,600 range. A rejection could send the price back toward the Bollinger midline at $64,647, followed by the lower band at $64,037.<\/p>\n A deeper decline would expose $63,360, where the daily 50-day SMA is located. Pillows identified a broader demand zone near $62,000\u2013$63,000, with further support around $59,000 if that area fails.<\/p>\n CoinGlass\u2019 one-week liquidation heatmap shows leveraged positions concentrated above and below Bitcoin\u2019s current price.<\/p>\n The nearest major upside cluster appears around $65,500\u2013$65,700. A move through that zone could liquidate short positions and accelerate a test of $66,000. Additional liquidity is visible above $66,000, although the concentration is weaker.<\/p>\n Larger downside clusters are located around $63,700\u2013$63,900 and close to $63,000. These areas could attract price if Bitcoin loses the 4-hour Bollinger midline and the $64,000 level.<\/p>\n This positioning leaves BTC between competing liquidity pools. A breakout above $65,600 would favor a short squeeze, while a loss of $64,000 could pull the market toward the denser downside clusters.<\/p>\n For U.S. investors, the weekend move will occur while spot Bitcoin ETFs and CME futures are closed. Any sharp breakout before Monday could therefore produce a gap between Bitcoin\u2019s continuously traded spot market and the reopening of regulated U.S. products.<\/p>\n The immediate bias remains mildly bullish while BTC holds above $64,000. However, the short-term holder cost basis at $67,523 and the long-term moving averages above $68,000 remain major barriers to a broader recovery.<\/p>\n \n Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. <\/p>\n<\/p><\/div>\n <\/p>\n <\/p><\/div>\n\n
Bitcoin price struggles to hold above $65,000<\/h2>\n
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Short-term holders could sell near $67,523<\/h2>\n
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BTC technical indicators favor a $65,250 test<\/h2>\n
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Liquidation heatmap shows pressure on both sides<\/h2>\n
![\"Bitcoin](\"https:\/\/media.crypto.news\/2026\/08\/BTC-Liquidation-Heatmap1-week-2026-08-08_15_09_55.webp\")