"Grayscale Research believes BTC's blockchain data could signal a durable market bottom has occurred. The firm added: $ BTC has rallied nearly 20% since February 5th."
"Recent buyers are back at breakeven around ~$74K. These remarks align with market behavior as bitcoin recovered from earlier weakness and approached the average cost basis of recent participants."
"The broader short-term structure suggests strengthening resilience, with buyers consistently defending higher lows. Since then, BTC has advanced, indicating a potential shift toward bullish conditions."
Grayscale identified a potential turning point in bitcoin markets, suggesting a durable bottom may have occurred. The firm noted improved price performance and investor positioning as signs of bullish sentiment. Bitcoin has rallied nearly 20% since early February, with recent buyers returning to breakeven around $74K. The price stabilized near $75,577, showing resilience and reducing sell pressure. Recent market behavior indicates a strengthening structure, with buyers defending higher lows and approaching resistance near $78,000.
Read at news.bitcoin.com
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