Bitcoin STH Average Cost Basis At $90,950 — Why Is It Relevant?
The Bitcoin price continues to dance within the newly formed $80,000 – $85,000 range, showing some level of indecisiveness in its movement. Since the premier cryptocurrency lost its hold above $90,000, investors have wondered whether the ongoing correction is a “buy the dip” opportunity or the market top is in. While there is no surefire way to put these doubts away, on-chain data can provide relevant insights into what is to come. The latest on-chain data suggests the highlighted level below is the one to watch before investors return to the market. Level To Watch Before....
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On-chain data suggests the $33,700 level could be a very significant level to break for Bitcoin if the historical pattern is anything to go by. Bitcoin 6 Months To 3 Years Old Investors Have $33,700 As Cost Basis In a new post on X, Ali, an analyst, has shared a chart that could shed light on the path that BTC may end up taking. The relevant indicator here is the “realized price,” which tells us about the price at which the average investor in the Bitcoin market acquired their coins. Related Reading: Bitcoin Exchanges See Three Straight Months Of Withdrawals For First Time Ever....
Data from Glassnode shows the Bitcoin long-term holder cost basis is currently above the realized price of the crypto. Bitcoin Long-Term Holder Cost Basis May Have Hints For Bear Market Length As per the latest weekly report from the analytics firm Glassnode, the LTH cost basis has remained below the realized price for a period […]
On-chain data shows the true market mean price of Bitcoin is valued at $29,700 right now, making the level of particular significance for the coin. Bitcoin True Market Mean Price Is At $29,700 Currently In a new post on X, the lead on-chain analyst at the on-chain analytics firm Glassnode, “Checkmate,” pointed out how the BTC price currently trades below the true market cost basis. The “market cost basis” refers to the average price at which the investors in the sector bought their coins. One popular way of calculating this cost basis is through the “realized....
On-chain data suggests an Ethereum close under the $1,530 level could lead to a significant drawdown for the cryptocurrency. Ethereum Support Levels Below $1,530 Are Very Thin Currently In a new post on X, analyst Ali has discussed what the support and resistance levels of Ethereum are looking like right now. These support and resistance levels aren’t the technical ones, however, but rather ones based on on-chain analysis. The support and resistance levels here are defined based on the density of investors’ cost bases. The “cost basis” here refers to the average....
The Bitcoin price has been in a red-hot form over the past two weeks, leading to talks of the premier cryptocurrency reclaiming the significant $100,000 mark. Interestingly, the latest on-chain data suggests that the price of BTC could fly past this level and forge a new all-time high over the coming weeks. What Will Happen If Bitcoin Price Falls Beneath $93,145? In an April 26 post on X, popular crypto analyst Ali Martinez shared an exciting analysis and projection for the Bitcoin price over the next few weeks. According to the online pundit, the flagship cryptocurrency could be on its....