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therationalroot 2y ago

After yesterday’s spike to 25.3k we bounced right back above the STH cost basis. While we currently remain above it — which is necessary for sustaining a bullish trend— the truth is that in this phase of the cycle we also have seen #Bitcoin fall below for a brief period.

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therationalroot 2y ago

While the bounce in price was a strong sign, news developments, on-chain demand levels and macro circumstances remain rather bearish. Also if we continue a bullish trend now, it wouldn't be surprising to see #Bitcoin fall below for a brief period before reaching the next halving.