PiCK
[Analysis] "Bitcoin trading below short-term holders' average cost... next support level at 75.87K"
Summary
- Bitcoin has been on a downward trend recently, trading below the average cost of short-term holders.
- The next major support level to watch is $75,875, which is the realized price of 3-6 month holders.
- The UTXO Realized Price Age Bands is a useful indicator for understanding investors' average purchase prices and trends.
As Bitcoin (BTC) continues its downward trend recently, there are suggestions that the next support level could form in the $75,000 range.
On the 28th (local time), CryptoQuant author tugbachain used the UTXO Realized Price Age Bands to report that "Bitcoin has fallen below the realized price of 1-3 month holders. The next major support level is likely to be $75,875, which is the realized price of 3-6 month holders."
The UTXO Realized Price Age Bands is an indicator that shows the on-chain transaction prices by coin holding period. This helps identify average purchase prices and is useful for tracking the trends of both long-term and short-term investors.
In bull markets, short-term investors' fear psychology leads to panic selling, and typically the 1-3 month realized price serves as a major support level during correction phases. However, Bitcoin is currently trading below this level, so market attention is now focusing on the realized price of 3-6 month holders.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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