Viewpoint: If Bitcoin Holds Above $11,690 Buyer Cost Price Short-Term Top, It Could Regain Upside Momentum

BlockBeats News, August 7th, Glassnode stated in a post that Bitcoin (BTC) is currently striving to reclaim the short-term top buyers' cost price (around $11.69k). If it continues to stay below this level, the market is more likely to enter a long consolidation phase or further pull back to the $11k price range.

According to HTX market data, Bitcoin is currently trading at $11.68k with a 24-hour gain of 2.45%.