Bitcoin Current Position Is Sensitive, Glassnode Explains Why
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Data from Glassnode shows that the current Bitcoin price is where the cost basis of a large number of coins lies. Here’s what this means. 780,000 BTC Was Acquired Near The Current Spot Prices According to data from the on-chain analytics firm Glassnode, 4.6% of the entire circulating Bitcoin supply has its acquisition price near the current spot prices of the asset. The relevant indicator here is the “entity-adjusted UTXO Realized Price Distribution (URPD),” which, in simple terms, tells us about how the cost basis of the investors is distributed right now. The cost basis here refers to the price
The on-chain analytics firm Glassnode has explained how the Bitcoin investor Cost Basis Distribution could highlight this level as an important one. A Notable Amount Of Bitcoin Has Cost Basis At $106,600 In a new post on X, Glassnode has talked about the Bitcoin Cost Basis Distribution for the levels…
Bitcoin briefly fell below $60,000 due to outflows from US spot ETFs, a more hawkish Fed, and a stronger dollar. While the decline is raising concerns that it could turn into a prolonged bear market, some analysts suggest that the bottom may be near. At this point, Glassnode noted that…
Leading cryptocurrency Bitcoin has been trending lower lately, with analysts warning of further declines in the short term. At this point, a critical warning came from crypto analysis company Glassnode. At this point, Glassnode stated that Bitcoin is at a critical point and claimed that if the price stays below…