Short-term holders are sitting right on the edge.
Analyst Darkfost says the average cost basis of Bitcoin's short-term holders is near $76,000, and $BTC is trading around $77,400 (Investing.com). The STH MVRV ratio is approaching the neutral level, so this group is close to break-even.
My take: when recent buyers hover near cost, reactions get emotional. Either they defend the level or the pressure builds below it. Not financial advice.
Do you think $76K holds as support for the short-term crowd, or does it break? Tell me why.
#Bitcoin #OnChain #CryptoMarket
Analyst Darkfost says the average cost basis of Bitcoin's short-term holders is near $76,000, and $BTC is trading around $77,400 (Investing.com). The STH MVRV ratio is approaching the neutral level, so this group is close to break-even.
My take: when recent buyers hover near cost, reactions get emotional. Either they defend the level or the pressure builds below it. Not financial advice.
Do you think $76K holds as support for the short-term crowd, or does it break? Tell me why.
#Bitcoin #OnChain #CryptoMarket