Bitcoin Makes Sharp Recovery, But Watch Out For Resistance At $64,000
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Bitcoin has experienced a sharp recovery but may face resistance at the $64,000 mark.
This resistance is due to the average cost base of short-term holder whales being between $64,000 and $65,000. Short-term holders (STHs) have purchased BTC within the past 155 days and are more reactive to market changes.
Currently, STH whales are at a net unrealized loss, and they may sell their holdings if prices reach their cost base to break even.
Long-term holder (LTH) whales, who have held BTC for more than 155 days, continue to enjoy profits with a cost base of $22,000. Bitcoin's price had briefly touched $62,000 but has since fallen back to $60,500.
Source: www.newsbtc.com ↗
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