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[BTC Recovers Above $63,000 For Short-term Holders’ Cost Basis] Bitcoin Recently Recovered Above $63,000 In An Attempt To Regain The Short-term Holders’ (STH) Cost Basis, But Glassnode Analysts Said BTC Is Currently In A “fragile State”. BTC Rebounded From A Low Of $59,850 On October 3 To A High Of $64,444 On October 7, Exceeding The Current STH Cost Basis Of $62,500. Glassnode Analysts Pointed Out In An October 8 Report That If The Market Fails To Stay Above This Level, Pressure From Buyers Will Increase In The Near Term. The Analysis Shows That True-Market Mean ($47,000) And Active Investor Price ($52,500) Provide The Average Cost Basis Of Active Investors In The Current Cycle. The Report Pointed Out That The BTC Spot Price Has Been Above These Two Key Price Levels In 2024, Indicating That The Market Is Relatively Stable. Glassnode Determined The Current Cost Basis Of Circulating BTC Using The UTXO Realized Price Distribution (URPD) Tool, Showing That The Spot Price Is Located In A Large Cluster Between $52,000 And $63,000
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