#BitcoinBouncesBack

Grayscale Research: Bitcoin Successfully Forms Bottom and Ready to Enter Bullish Phase

The latest report from Grayscale Research reveals that the majority of Bitcoin investors over the past three months have now reached break-even point. Grayscale Research Head, Zach Pandl, stated that with Bitcoin prices above $76,000, this position has surpassed the average acquisition price of new buyers at $74,000. This condition is seen as a strong signal that Bitcoin has successfully formed a solid market bottom.
​Based on on-chain data, this phase becomes an important indicator of the beginning of the bullish condition. If Bitcoin prices continue to rise, more new buyers will realize profits, which psychologically will reduce selling pressure in the market. "Bitcoin has established a durable bottom," Pandl wrote, noting a 20% price recovery since hitting the lowest point in February at $63,000.
​Grayscale analysts emphasize that price movements above the average acquisition cost of new buyers are a crucial transition towards a more stable institutional era. With investor confidence restored, Bitcoin is predicted to have a strong foundation to continue further upward momentum. The market focus now remains on price resilience above psychological levels to confirm the continuation of the long-term upward trend.