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Glassnode: The current average real market value of Bitcoin is 50,000 US dollars

Bitget2024/07/07 07:08

Glassnode's analysis suggests that the current Bitcoin price is still in a bullish phase. After entering the frenzy zone, it quickly fell back, with a real market average of $50,000. This represents the average cost basis for each active investor. If we expect the macro bull market to continue, this level remains a key price level that the market needs to stay above. Unrealized profits on Bitcoin suggest that the market may be overheated; currently this value is at $92,000. The breakeven level for short-term holders group is $64,000; although spot prices are currently below this level they are trying to recover. It's worth noting that only 7% of trading days recorded spot prices below -1 standard deviation band making it relatively rare occurrence.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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