Analyst: Bitcoin has retaken the key cost line, and short-term buyers are basically breaking even

Odaily Planet Daily reports that data disclosed by Grayscale analyst Zach Pandl shows that Bitcoin has rebounded more than 20% from its early-February low of approximately $63,000, with the current price around $76,000. It is already slightly above the average cost (realized price) of about $74,000 for buyers from the past 1 to 3 months, indicating that most short-term investors have returned to the break-even range.

The analysis suggests that if the price continues to move higher, more recent buyers will enter a profitable position, which is often seen as one of the important signals in the early stage of a bull market. However, Bitcoin is still below last October’s high. Market commentary points out that this round of rebound may have already formed a fairly solid, stage-specific bottom in the $65,000 to $70,000 range.