The cost price of a Bitcoin ETF is approximately $80,000; caution is advised regarding resistance at this price level.

This article is machine translated
Show original

On March 17, CryptoQuant analyst @AxelAdlerJr stated that while there has been a recent rebound in inflows into Bitcoin spot ETFs, the price of Bitcoin is still $5,174 (approximately $80,000) lower than the ETF realized price (which can be approximated as the average cost of Bitcoin held by the ETF).

Analysts say demand recovery could drive prices higher, but resistance around $80,000 could trigger profit-taking, and subsequent macroeconomic data should be monitored to assess the potential for a breakout.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments