Bitcoin’s slide toward a key on-chain support level has sparked debate after market analyst Shanaka Anslem Perera argued that the behavior usually seen at major market bottoms is still missing.
According to him, BTC came within 9% of the price level that has historically ended bear markets, but investors didn’t sell in the numbers usually associated with capitulation.
Bitcoin Nears Realized Price, But Selling Pressure Looks Different
The metric in question is Bitcoin’s realized price, which is currently around $53,600, and represents the average cost basis across every BTC in circulation.
In a June 11 post on X, Perera stated that in 2018 and 2022, the OG cryptocurrency fell to that level and bounced. Those rebounds, according to him, weren’t coincidences but were because of what happens after Bitcoin comes close to its realized price. Holders often break, selling at a loss in large enough numbers that the supply gets flushed, weak hands leave, and the market finds solid ground
We współpracy z: https://cryptopotato.com/bitcoin-nears-realized-price-but-capitulation-signals-are-missing-analyst/
