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 <p>Although the agency delayed the decision to either approve or reject seven BTC spot exchange-traded fund (ETF) proposals, experts in the market believe that Grayscale’s win could usher in the coveted era of regulated spot ETFs.</p>  
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 <p>Before that investors must prepare to stay profitable despite the dilapidated market structure. Trading at $25,992 on Monday, <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> live price has a higher chance of closing the day above $26,000—a move likely to pave the way for another attempt at achieving gains above $30,000.</p> 
 <h2 id="what-will-it-take-for-btc-price-to-climb-above-30k">What Will It Take For BTC Price To Climb Above $30k?</h2> 
 <p>After being briefly oversold in August, Bitcoin shows signs of a recovery taking shape this week. The Relative Strength Index (RSI) currently moving toward the mean line (0.00) reveals that buyers have the upper hand.</p> 
 <p>A break above $26,000 is bound to call more buyers from the sidelines while encouraging traders to book long positions with targets at $28,000 and $30,000, respectively. Meanwhile, highly conservative traders may want to hold on until <a rel="noopener noreferrer nofollow" title="BTC price" href="https://thebittimes.com/tag/btc-price.html">BTC price</a> rises above $26,000.</p>  
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 <figure id="attachment_158401" aria-describedby="caption-attachment-158401" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-158401" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201233%20561'%3E%3C/svg%3E" alt="BTC price under $20k" width="1233" height="561" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 1233w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 1224w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 768w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 150w" data-lazy-sizes="(max-width: 1233px) 100vw, 1233px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp"> 
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   <img decoding="async" class="size-full wp-image-158401" src="https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp" alt="BTC price under $20k" width="1233" height="561" srcset="https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 1233w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 1224w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 768w, https://cdn.thebittimes.com/images/2023/09/04/fc0cd502cd9c50077ced2dc4c74d01a9.webp 150w" sizes="(max-width: 1233px) 100vw, 1233px"> 
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  <figcaption id="caption-attachment-158401" class="wp-caption-text">
    BTC/USD daily price chart | Tradingview 
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 <p><a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> fundamental metrics show that long-term holders are accounting for the majority of the supply as short-term holders face capitulation. In other words, they are selling at a loss as prices drop.</p>  
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 <p>According to on-chain data from Glassnode, long-term holders have recently set new records. Moreover, the prevailing dormant BTC supply is at the highest level of all time, approximately 40.5%.</p> 
 <figure id="attachment_158400" aria-describedby="caption-attachment-158400" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-158400" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%202400%201200'%3E%3C/svg%3E" alt="BTC supply" width="2400" height="1200" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 2400w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 1224w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 768w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 1536w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 2048w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 150w" data-lazy-sizes="(max-width: 2400px) 100vw, 2400px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp"> 
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   <img decoding="async" class="size-full wp-image-158400" src="https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp" alt="BTC supply" width="2400" height="1200" srcset="https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 2400w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 1224w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 768w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 1536w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 2048w, https://cdn.thebittimes.com/images/2023/09/04/49294d2b2cf523736e354661608ebd98.webp 150w" sizes="(max-width: 2400px) 100vw, 2400px"> 
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  <figcaption id="caption-attachment-158400" class="wp-caption-text">
    Bitcoin supply last five years | Glassnode 
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 <p>The number of BTC that has been idle in wallets for more than five years stands at nearly 30%, implying that investors are willing to hold <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> long-term as a store of value as opposed to short-term speculation that often leads to realized losses that could otherwise remain unrealized ahead of the bull market anticipated in 2024/2025.</p> 
 <figure id="attachment_158399" aria-describedby="caption-attachment-158399" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-158399" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20680%20383'%3E%3C/svg%3E" alt="Bitcoin supply" width="680" height="383" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 680w, https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 678w, https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 150w" data-lazy-sizes="(max-width: 680px) 100vw, 680px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp"> 
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   <img decoding="async" class="size-full wp-image-158399" src="https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp" alt="Bitcoin supply" width="680" height="383" srcset="https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 680w, https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 678w, https://cdn.thebittimes.com/images/2023/09/04/265c4ba48957e5db27f3a040856681af.webp 150w" sizes="(max-width: 680px) 100vw, 680px"> 
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  <figcaption id="caption-attachment-158399" class="wp-caption-text">
    Bitcoin supply last five years | Glassnode 
  </figcaption> 
 </figure> 
 <p>“Once again, <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> short-term holders have capitulated roughly 20k BTC sent to exchanges at a loss,” James Straten a research and data analyst wrote on X (formerly Twitter). Fourth highest amount this year. This will continue to add to the record divergence between long-term holder and short-term holder supply.”</p> 
 <p>BTC price is still trading below $26,000 and this increases its vulnerability to further dips below $25,000. An extended drop to the support at $23,500 cannot be ruled out yet, therefore, traders must move with caution.</p> 
 <h3 id="related-articles">Related Articles</h3> 
 <ul> 
  <li>Terra Luna Classic Crucial Proposal For Dynamic Minimum Commission Is Passed</li> 
  <li>Altcoin of the Week, Cardano (ADA) Showing Rising Onchain Transaction Volume</li> 
  <li>XRP Lawyer Deaton Asserts Coinbase’s Partial Win Against SEC, But Crucial Than Ripple Case</li> 
 </ul> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/btc-price-struggles-below-26k-but-bulls-eye-30k-tbt61420.html">https://thebittimes.com/btc-price-struggles-below-26k-but-bulls-eye-30k-tbt61420.html</a></p>

BTC Price Struggles Below $26k But Bulls Eye $30k

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