Analyst: Bitcoin has retaken the key cost line, and short-term buyers are basically breaking even

ME News report: On April 22 (UTC+8), Grayscale analyst Zach Pandl disclosed data showing that Bitcoin has rebounded more than 20% from its low of about $63k in early February; the current price is around $76k, slightly above the average cost (realized price) of about $74k for buyers over the past 1 to 3 months. This suggests that most short-term investors have returned to the break-even range. The analysis believes that if prices move higher further, more recent buyers will enter profit territory, which is often viewed as one of the important signals at the early stage of a bull market. However, Bitcoin is still below last year’s October high. Market views point out that this round of recovery may have already formed a relatively stable phase bottom in the $65k to $70k range. (Source: ChainCatcher)