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.
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When the spot price of the asset exceeds this line, it means that the holders as a whole are currently carrying a net amount of profit on their coins. On the other hand, BTC being below the level suggests the average investor is underwater right now.
In the context of the current discussion, the cost basis of the entire market isn’t of relevance, but of only a specific segment: the holders who acquired the
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