Bitcoin on-chain signals suggest market bottom as gold faces further correction

Glassnode on-chain analysis shows realized losses by Bitcoin holders who have owned the asset for 1‑2 years are declining, a metric historically seen as an early sign that heavy bear‑market selling is ending. The 30‑day moving average of realized losses fell below $75 million and the cost‑basis for short‑term holders sits around $69,000, a level that could act as support or resistance. Bitcoin has been trading near $63,000‑$64,000 after a 28 % drop from early‑year highs, with selling pressure at its lowest since the start of the year.

Bank of America’s technical team warns that gold’s current correction may continue, with the metal testing support near $3,600 per ounce after struggling to stay above the $4,000 level. Analysts suggest buying opportunities below $4,000, recommending modest accumulation in the $3,700‑$3,600 range and deeper buying at $3,450‑$3,250. Despite a recent downgrade of its 2026 average price forecast, BofA still projects gold could reach $6,000 per ounce by 2027.