Bitcoin Seen as Directionless Without Fresh Catalyst

Dow Jones08-13

1416 ET - Bitcoin is down 0.5% to $63,403, with prices seen rangebound without anything to juice buyer interest or seller activity. "Sellers are tiring and buyers are absent," says analysts with Glassnode in a note. The firm says the median realized price for bitcoin is sitting at $63k, while short-term holder cost basis is at $68.7k--with bitcoin rangebound between those levels. The July CPI report did little to move bitcoin, says Glassnode. "A weak response to good news is itself a warning," says the firm. Ethereum is up 0.4% to $1,888, XRP falls 0.7% to $1.01, and solana is essentially flat at $75.98.

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