BTC Breaks Below $75K Again as On-Chain Data Signals Demand…

Bitcoin slipped below $75,000 for the second time in May, touching an intraday low near $72,600, as the market's recovery from spring lows lost momentum again. Glassnode's May 27 report identifies the $75,000–$78,000 band as a structural bottleneck, with spot demand, ETF flows, and options positioning all retreating too far to drive a convincing recovery.

The band sits directly beneath two critical on-chain thresholds converging near $78,000: the Short-Term Holder Cost Basis and the True Market Mean. Trading below that cluster leaves recent buyers at breakeven or underwater, converting them from a support base into a potential source of selling.