Bitcoin traded above $65,000 on Tuesday after reaching an intraday high near $65,700, extending its rebound from lows around $63,700.
BTC had struggled to hold the level during earlier July trading, with repeated advances losing momentum between $64,000 and $65,000. The latest move returned Bitcoin to the upper end of its recent range as Ether and several large-cap tokens also posted gains.
Bitcoin previously reclaimed $65,000 as Ether moved above $1,900, restoring prices that had acted as resistance during the first half of the month.
Short-Term Wallets Move Back Into Profit
The 30-day MVRV readings for Bitcoin, Ethereum, XRP, Cardano and Chainlink moved above zero as prices recovered.
A positive 30-day MVRV places the average wallet that acquired or moved tokens during the past month above its realized cost basis. Negative readings indicate that the same group is holding an average unrealized loss.
BTC, ETH, XRP, ADA and LINK remained close to the neutral line, leaving recent buyers in modest profit rather than at the elevated levels associated with heavily profitable short-term positioning.
The indicator had remained below zero during the earlier selloff as falling prices pushed recent buyers under their average entry levels. Bitcoin’s move above $65,000 brought that cohort back into profit alongside similar recoveries across the other four assets.
Cost-Basis Recovery Changes Holder Positioning
Short-term wallets can sell without realizing an average loss once MVRV moves above zero. Traders who bought during the recent decline also regain an opportunity to close positions near break-even or secure smaller profits.
Bitcoin’s earlier recovery in short-term holder metrics came alongside falling exchange balances and tightening available supply.
BTC remained above $65,000 on Tuesday, while the five large-cap 30-day MVRV readings held slightly above their respective break-even levels.
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