The latest Glassnode onchain report highlights that Bitcoin (BTC) has surpassed the short-term holder cost basis of $61,900. This indicates positive sentiment among short-term investors.
Additionally, Bitcoin has also crossed the 200-day moving average (MA) of $63,900. Surpassing this significant technical indicator underscores increased market confidence in Bitcoin.
This positive movement in Bitcoin’s price follows the Federal Reserve’s recent rate cut, adding another layer of investor optimism.
