Bitcoin Trades 15% Below True Market Mean at $77.2K After June Selloff

According to Glassnode's June 17 report, Bitcoin rebounded after a sharp June decline but remained significantly below the True Market Mean, a key on-chain benchmark distinguishing bull from bear market regimes. The metric stands at $77,200, roughly 15% above the current spot price near $65,600, placing the market in discount territory.

Recent buyers remain under pressure despite the bounce. Short-Term Holder MVRV, comparing the current value of coins held by recent purchasers to their acquisition price, improved to 0.90 but stayed below the 1.0 break-even threshold, leaving newer holders with approximately 10% in unrealized losses.