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Bitcoin Price Tests Critical Support Levels

The beneath is an excerpt from a latest version of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets e-newsletter. To be among the many first to obtain these insights and different on-chain bitcoin market evaluation straight to your inbox, subscribe now.

In a earlier situation, we highlighted that primarily based on the extent of realized losses, unrealized losses and capitulation developments prior to now, we had but to see a bear case capitulation play out:

“The key on-chain price areas to watch are still those that make up the cost basis. Currently the market’s realized price is around $24,000 while long-term holders realized price is around $17,000. As short-term holders realize losses, short-term holders realized price has dropped to around $48,000. If we’re to get the long-term holder market capitulation we’ve seen in the past, there’s potentially more downside to come.”

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