The price of Bitcoins is still dancing in the newly created range of 80,000 – 85,000 USD, showing a certain level of indecision in their movement. Since the Prime Minister’s cryptocurrency lost its number above USD 90,000, investors wondered if the continuous correction is an opportunity “buy” or is the best.
Although there is no way to postpone these doubts, the chain data can provide adequate insight into what is to come. The latest data in the chain suggests that the illuminated level below is a view before investors return to the market.
Level to view before “Purchase DIP”
In the last post about Platform X, Crypto Maartunn analyst common that re -entering the Bitcoin market may not be technically safe and sound at the current price. This analysis is based on moving bitcoin price in relation to the current value of the average cost of low -term owners (STH).
The average basic record of the STH cost estimates the average price in which low -term owners (investors who had bitcoins for less than 155 days) acquired their coins. It represents the psychological level for BTC investors and can act as a reference point for price analysis, especially during bull cycles.
Bitcoin usually trads above the average cost of low -term owners on bull markets, signaling significant purchasing pressure and positive moods from low -term investors. On the other hand, when the BTC price drops below this cost base-as can be seen in the ongoing correction, it suggests that short-term investors are losses, which can lead to sale and precipitate significant pressure of bear.
According to Cryptoquant data, the price of Bitcoin is currently 6% below the average low -term cost of owners at 90,950 USD. With the flagship cryptocurrency below the price of low -term owners, the chances that the price of BTC can face further sales pressure, because a group of investors is trying to minimize their losses.
Using this logic, Maartunn noticed that investors may want to wait until the Bitcoins price increases above the average cost of STH before re -entering the market. Interestingly, low -term investors still seem to charge their bags. Cryptographic analyst Ali Martinez revealed In the post for x, low -term owners have purchased over 35,000 BTC in the last 4 days.
Bitcoin price at first glance
From this letter, the price of BTC is slightly below the USD 86,000 brand, reflecting over 2% jump in the last 24 hours.
