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Bitcoin is setting up 'meaningful floors' in $60K–$70K range
Bitcoin (BTC) showed signs of bottoming inside the $60,000–$70,000 range on Wednesday, according to onchain data shared by a quant analyst. The bottom signal comes from Bitcoin’s unrealized price distribution, or URPD, which shows where BTC last moved on-chain and helps identify major investor cost-basis zones. As of Tuesday, Bitcoin's URPD reading showed a heavy concentration of supply between $60,000 and $70,000. About 20% of Bitcoin’s supply now sits in that range, "Frank Fetter" said, citing Checkonchain data. “This is how meaningful floors are put in,” the analyst added. Dense cost-basis zones can ... (full story)
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