- Bitcoin rebounded 7.45% after dropping to $62,400, testing a key onchain support level.
- The realized price for investors who bought between six months and two years ago stands at $74,500, a crucial profitability threshold.
- Long-term holder supply has recovered to a three-month high, suggesting continued coin dormancy despite price volatility.
Bitcoin surged 7.45% over two days, recovering from a drop to $62,400 that tested a major onchain support level. This bounce brings the market’s focus to a critical barrier at $74,500, the average cost basis for a significant cohort of holders.
However, this $74,500 level now represents a key inflection point. Crypto analyst Anıl noted that Bitcoin tested and reclaimed the $64,200 support zone for investors aged 18 to 24 months. Consequently, a decisive move above $74,500 could signal renewed demand and shift the short-term market structure by returning many to profitability.
Meanwhile, onchain data from CryptoQuant shows the realized price for this six-month to two-year cohort is a pivotal level. Their MVRV ratio sits at 0.88, indicating they are holding at an average loss. Further data reveals long-term holder balances have recovered to near 14 million BTC, a three-month high pointing to continued dormancy.
Capital flow metrics, however, remain flat. The realized cap net position change has compressed toward neutral, signaling negligible new inflows according to Glassnode charts. Historically, early recoveries begin with stabilization in this metric before acceleration. Therefore, a renewed expansion could confirm fresh capital is entering the market.
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