Bitcoin

<ul><li>Most Bitcoin, 87%, was acquired for less than $48k, indicating a strong base below current high valuations.</li><li>Bitcoin whales have notably increased their holdings by over 100,000 BTC in the last ten days, signaling confidence.</li><li>Bitcoin rebounds above $52k, supported by bullish indicators like the RSI and MACD, hinting at potential new highs.</li></ul>Glassnode, a leader in on-chain and financial metrics analysis, recently shared insights that paint a detailed picture of the Bitcoin market. The data reveals that most Bitcoin, specifically 87%, has been acquired at prices below $48,000. This indicates that the bulk of the supply is held by investors who entered the market at lower valuations. Additionally, there&#39;s a significant concentration of short-term holder supply within the $40k to $45k range.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/62cdf33219a54a97a7e922ccd5410306.png" />Moreover, the analysis sheds light on the position of <a href="https://cryptotale.org/bitcoin-hodlers-balance-signals-accumulation-phase-in-market-cycles/" rel="noopener noreferrer nofollow">long-term holders</a>, who now hold 13% of the supply at a loss. These holders primarily purchased at the peak of the market in 2021, around the all-time highs. Hence, it underscores the contrast between short-term trading behaviors and long-term investment strategies within the Bitcoin ecosystem.Read full article at <a href="https://cryptotale.org/glassnode-analysis-87-of-btc-acquired-below-48k-benchmark/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Glassnode Analysis: 87% of BTC Acquired Below $48k Benchmark

CryptoTale

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