Has the Lull in Bitcoin Lasted Too Long? Bitwise Identifies Two Levels That Could Separate the Bulls from the Bears
Bitwise’s Bitcoin analysis published today notes that despite the price being confined to a narrow range, there is a significant divergence among investor groups.
The company stated that Bitcoin ETF investors are showing resistance around the approximately $82,000 cost zone. Below this, short-term investors are drawing attention to the “True Market Mean” indicator around $77,600, with a cost level of approximately $74,800.
According to Bitwise, these two indicators are important for assessing the short-term direction of the market. In particular, the indicator around $77,600 stands out as one of the reference points used to monitor the profit and loss status of invested capital.
Know when your
coins move
Alerts, real-time prices, and market news — all in one app 
Point your phone camera to install 
4.8 based on 40K reviews in the App Store and Google Play 
Related News Bankless Founder Highlights the Rise of Two Altcoins: “These Are Bitcoin Clones”
Another notable point in the report was the tightening of volatility. It was stated that Bitcoin’s 30 and 60-day trading ranges narrowed to 1.8% and 3%, respectively. The expected volatility in the options market was also noted to be approaching the lowest levels of its three-year spread.
In contrast, the negative net position change of long-term investors indicates that this group is diversifying its holdings. Bitwise assessed that these sales could contribute to the price remaining relatively flat.
*This is not investment advice.
