Bulldozers or Bull Market? This Bitcoin Range is the Epitome of Drama! 😜

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Darling, it appears that our dear friends at Glassnode—those charming analysts—have unearthed a Bitcoin price range that might just be the final haven for the bulls. Imagine a bustling soirĂ©e where the stakes are as high as the champagne bubbles!

It’s a Crowd of Confused Metrics! 🎉

In their latest dazzling report, our on-chain analytics wizards have presented the “UTXO Realized Price Distribution”—a term so long it makes one swoon! This delightful metric reveals how the Bitcoin supply frolics among various price levels, based on its last waltz, I mean, transaction value.

Now, if we transport ourselves back to the glorious time before the recent price plunge, one can witness a chart that looks as empty as a politician’s promise:

Ah, but the sheeple were scuttling away from acquiring anything between $70,000 and $92,000, which, might I add, resembles the sound of crickets chirping! A delightful “air-gap” in demand, if you will. And when the crash came, our beloved Bitcoin took a deep dive into that yawning chasm.

Yet, fear not, the bulls have put on their capes (or is it just fancy suits?) and rushed in to salvage this desolate patch with a bit of buying, promptly editing the URPD!

Now, the plot thickens! This range, though still empty compared to the lavish Bitcoin cost basis centers, is poised to offer a splash of support. How utterly thrilling!

And speaking of riveting indicators, let us not overlook the “Realized Price” of our short-term holders, those charming folks who jumped into Bitcoin’s arms just within the last 155 days of passionate romance. Their average cost basis is giving us all the suspense of a cliffhanger in a particularly riveting play.

“The Short-Term Holder cost basis has historically been a reliable reference point during bull markets,” declares our analytical friends, as if they were high priests in the grand temple of crypto!

Oh, and here’s a delightful twist: the lower pricing boundary, which just happens to be a mere $71,000, is nestled snuggly at the end of our previously demure air-gap. How neat and tidy! Like a well-organized handbag.

The “Active Realized Price”—a name so illustrious one can almost hear the trumpets—merely scans the network’s realized price while excluding the ‘unwilling’ supply. It stands at a noble $70,000—yet another actor on the grand stage of metrics!

With these impeccable indicators in line, it seems that this price range is shaping up to be the ultimate bulwark for our courageous bulls amid potential doom. What a dramatic finale that would be!

Bitcoin’s Glamorous Price Tag

As of our latest gossip—Bitcoin is strutting about at approximately $90,000, regaling us with a nearly 5% gain over the past week. Bravo! Let the sparks fly! 🎆

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2025-03-07 03:53