Bitcoin Cost Basis Lines Cross, CVDD Hits $45,410 in Late April

BTC-0.61%
WOO-1.99%
According to analyst Murphy, the average cost basis for Bitcoin held 1-2 years (yellow line) crossed with the average cost basis for BTC held 1-3 months (orange line) in late April, signaling that Bitcoin has entered the late stage of a bear market. Additionally, the long-term Bitcoin valuation indicator CVDD proposed by on-chain analyst Willy Woo reached $45,410 in late April, up only $506 from February 10, reflecting that early whale holders have significantly reduced or nearly halted on-chain transfers. CVDD is one of the few indicators in Bitcoin history that has never failed, with prices consistently remaining above it during bear market bottoms.
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