Bitcoin Price Falls Below $80,000 Amid Market Downturn
Bitcoin's price has fallen below $80,000, marking a nearly 20% decline in the past week. The market shows limited signs of recovery.
UTXO Realized Price Age Distribution Insights
- The UTXO Realized Price Age Distribution metric reveals holding patterns among investor groups.
- Realized price is calculated by dividing Realized Cap by total Bitcoin supply.
- Historical data indicates key support levels during corrections at 1-month and 3-month realized price levels.
- Current support levels have fallen below typical thresholds, with the next potential area around $75,875.
Market Analysis Using NVT Golden Cross
- The NVT Golden Cross metric measures Bitcoin's market cap relative to daily transaction volume.
- Current NVT value is below -2.4, indicating oversold conditions often associated with local market bottoms.
- A rebound may face resistance at the 111-day moving average of $96,895.
