Bitcoin has observed a plunge during the past day. Here’s the nearest on-chain level that the asset would end up retesting if the drawdown elongates.
1 Week To 1 Month Bitcoin Holders Have Their Realized Price At $97,900
As pointed out by CryptoQuant author Axel Adler Jr in a new post on X, the Realized Price of the 1-week to 1-month-old BTC investors is the closest support for the asset right now.
The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the cost basis or acquisition price of the average holder on the Bitcoin network.
When the metric’s value is lower than the spot price of the cryptocurrency, it means the investors as a whole can be considered to be holding a net amount of profit. On the other hand, it being under the BTC value suggests the dominance of loss in the market.
In the context of the current topic, the Realized Price of only a particular segment of the sector is of interest: the 1-week to 1-month-old hold
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-crashes-where-nearest-on-chain-support/
