Market Wrap: Bitcoin Close to $30K as Investors Search for a Bottom

Ten-year Treasury yield daily close: 2.97%

Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atMost indicators suggest bitcoin is approaching the middle or end of a bear market. For example, the realized price model, which is an estimate of the average cost basis of all BTC in supply, is $23,600.

"Historically, the overall market cost basis or realized price has been a very sound cycle support level, with 84.9% of bitcoin trading days closing above this level. In other words, only 15.1% of trading days have closed below the realized price," Glassnode, a crypto data firm, wrote in aTo confirm a low, BTC would need to return above the realized price level, similar to what occurred at the end of previous bear markets.

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This will be a while and could last all summer. Until then I'd rather buy and hold a project like BIT wherein you get rewarded through airdrop from the treasury, and the whole DAO stays secure through members engaging through voting

NewsAsset and intocryptoverse and invest_answers what does the trio think about this? Are we there yet?

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