Bitcoin Breaks Above “Warm Supply” Realized Price
An analyst has noted that Bitcoin is currently trading above the warm supply realized price, indicating that holders are in a state of profit. The warm supply refers to the coins that were last moved on the network between one week and six months ago. This segment of supply provides insight into investor behavior, as it is less liquid compared to the hot supply.
A Positive Sign for Bitcoin
The current trend in the Bitcoin realized price for the warm supply shows that it is trading around $28,151. Breaking above this level is significant, as it suggests that holders have returned to a state of profit. Previously at a loss, these investors may be tempted to sell at break-even to avoid any further losses. However, with Bitcoin surpassing this boundary, it indicates a positive sign for the asset.
Potential for a New Uptrend
If Bitcoin can maintain its position above the warm supply realized price, it could potentially signal the beginning of a new uptrend for the cryptocurrency.
BTC Price
At the time of writing, Bitcoin is trading at around $28,600, showing a 4% increase in the last week.
Hot Take: Bitcoin’s Breakout Above Warm Supply Realized Price Points to Bullish Trend Ahead
The recent breakout of Bitcoin above the warm supply realized price is an encouraging sign for the cryptocurrency. This milestone indicates that holders are now in a profitable position and may be less inclined to sell at break-even. By surpassing this level, Bitcoin has cleared a potential resistance point and could potentially enter a new uptrend. With the current price trading around $28,600, Bitcoin’s positive momentum suggests that further gains may be on the horizon.
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