Bitcoin Price Bull Run to Continue? Here's Why
CryptoNewsTerminal Staff10 Jun, 2024
Bitcoin Price Bull Run to Continue? Here's Why
Cointelegraph has reported that Bitcoin's short-term holders' realized price is currently $64,000, suggesting that the rally could continue. These short-term holders are those who purchased BTC around the launch of the first Bitcoin spot ETF in January, and their realized price can act as a support level. Additionally, IntoTheBlock data revealed that roughly 2.22 million addresses bought 1.3 million BTC at an average price of $68,958. This area, along with the short-term holders' realized price, could also act as support. If the market sees any sell-off, the aggressive buying behavior of these cohorts could likely absorb the selling pressure.
