Bitcoin eyes 'textbook' bottom as $16K whale cost basis comes into play
The price paid for “whale coins” is revealed as a potential new bear market bottom zone for BTC. Bitcoin (BTC) has a new downside price target as more research highlights the potential role of whales in setting a macro floor.In the latest edition of its weekly newsletter, The Week On-Chain, analytics firm Glassnode provided fresh insight into Bitcoin's "whale cost basis."Aggregate price paid joins whale support linesBTC price action is currently all about sideways movements and some of the lowest volatility ever seen.As analysts prepare for big changes, however, Glassnode is considering....
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