Bitcoin · Strategy · SpaceX · NewsBTC
Bitcoin CVDD Data Points To Possible Bottom Amid Market Mayhem, Detail
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Key facts
- Alongside the CVDD, other important on-chain metrics revealed by Rafael include the Realized price ($54,000), Balanced price ($40,000), and the Delta price ($35,000)
- 1/ Where is the bottom? $BTC has fallen to $62K, nearly 50% below its ATH and down 24% in a month
- At press time, Bitcoin trades at $60,537, reflecting a 4.7% decline in the past 24 hours
- Based on this historical standard, the likely higher market bottom zone for Bitcoin lies between $46,000 and $54,000
Summary
Bitcoin price performance in June has gotten off to a rocky start, with prices now down 50% from the market’s all-time high. Notably, the heavy market loss has coincided with the dominant Bitcoin treasury Strategy offloading $2.5 million in BTC to manage its balance sheet, despite initial chants of “never sell”. After failing to break past the $82,000 barrier in early May, Bitcoin slipped into another corrective wave, resulting in a 24% price loss to date. 1/ Where is the bottom? $BTC has fallen to $62K, nearly 50% below its ATH and down 24% in a month.