Bitcoin Could Crash To $60,000 If This Support Gets Lost: CryptoQuant Head
Summary
Bitcoin is nearing the Realized Price of short-term holders, indicating potential retest of their cost basis. This metric tracks the average acquisition price of coins by investors on the Bitcoin network. When spot price exceeds this, holders are in profit, and vice versa. The current focus is on short-term holders who bought coins in the past 155 days. Historical data suggests that retests of this level have been significant for Bitcoin's price movements. If the cryptocurrency continues its bearish trend, a retest of this level may occur, with potential support or decline outcomes. The current price of Bitcoin is around $65,400, down over 6% in the past week.
