BTC Cost Basis Test for Short-term Holders
Bitcoin, like risky assets in general, is growing. The US stock market is experiencing a full-fledged rally, and volatility has been declining since the end of February. Bitcoin, which has been trading in a narrow range for most of 2022, is now at an interesting point, having come close to the key level of $46 thousand — the level of the realized price (cost basis) for short-term holders. The price reaction to this level has historically served as a useful short- and medium-term indicator of a bullish/bearish trend in the bitcoin market.
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