NEWSLETTER
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A bitcoin level in the chain has historically served as a limit to bears markets. Thus is to what extent the price of the asset is currently on this line.
bitcoin is the price made above all the main cohorts at this time
In a new one <a target="_blank" href="https://x.com/ki_young_ju/status/1892083802496958777″ target=”_blank” rel=”nofollow”>mail In x, the founder and CEO of Cryptoquant, Ki Young Ju, has discussed where the price currently represents some of the important bitcoin investors groups.
The “price made” here refers to an indicator in the chain that monitors the average investor cost base in the btc network. When the spot price is above this metric, it means that the holders as a whole are in a state of gain, while being under the indicator suggests the domain of the loss.
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Now, here is the table of the indicator shared by Young Ju, which shows the trend in its value for four bitcoin cohorts:
As is visible in the previous graph, bitcoin is above the price of all these groups at this time, so all its members would be sitting in some unrealized profits.
Historically, the average cost base of these cohorts has had some importance for cryptocurrency. From the table, it is evident that the price has generally followed a bullish trajectory every time it has been above the price of the new whales (colored in orange).
The new whales, also called short -term holders whales, refer to btc investors who bought their coins in the last 155 days and have more than 1,000 btc. The price currently is $ 89,300 for this cohort, which means that btc could be at risk of re -evaluating it in the near future if the bearish trajectory continues.
However, a potential fall under the level would not immediately indicate a change towards a bearish market; It would only imply a lack of impulse behind bitcoin. The level at which btc may have to avoid falling to avoid a bearish regime is the Whales Minera (Green).
Mining whales refer to wallets of mining companies that have More than 1,000 btc. The founding cryptocant explained that btc leaves under the brand during the last cycles have led to bears markets.
At present, the price of mining whales is located at $ 58,000. From the current price, bitcoin would have to go through a reduction of almost 40% to approach a new test of this line. If the level will act once again as a limit to the bearish market in this cycle, then btc can be considered at a safe distance for now.
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While the asset tends to see the breaks above and below the cost base of three of the cohorts in the course of a cycle, it has never broken under the price of the fourth group, the old whales or the whales of long -term headlines.
These whales, which have been resolutely supporting bitcoin for more than 155 days, have their average acquisition level in around $ 26,000 at this time.
btc price
bitcoin witnessed a fall under the level of $ 94,000 yesterday, but it seems that the currency has already found a rebound since its price has now returned to $ 96,200.
Outstanding image of Dall-E, Cryptoquant.com, TrainingView.com graphics
(Tagstotranslate) bitcoin
