On-chain analyst Crypto Dan says Bitcoin’s share of addresses at a loss has dropped sharply, a signal that historically marked the end of bear phases rather than just short-term bounces. Bitcoin is holding above $71,300, its cost basis for units actively traded, while repeatedly hitting resistance at $79,800, its break-even point for invested capital. At the time of writing, BTC was trading above $76,000, up about 1% on the day but down nearly 3% for the week, yet up 19% over the past month. Two major macro shocks – the Fed’s 25 basis point rate hike and the U.S. Senate’s failure to advance the CLARITY Act – failed to reverse this momentum, with the market interpreting this resilience as a strong sign that the bear market is over.
Source: Read the original article
