This Is The On-Chain Level That Made The Bitcoin Crash Bottom
Summary
Bitcoin's recent price bottom aligns with the cost basis of active investors, as indicated by on-chain data from Glassnode. The Realized Price and Liveliness metrics are used to determine this level, with the Realized Price representing the average investor's acquisition cost and the Liveliness tracking spending/HODLing behavior. The Realized Price-to-Liveliness Ratio, or Active Investor's Cost Basis, indicates BTC's fair value and currently stands at $51,300. The market finding support near this level suggests underlying strength and positive investor sentiment, with Bitcoin's price rising by almost 4% in the last 24 hours to surpass $61,000.
