"These Three Metrics Show Bitcoin Found Strong Support Near $80,000"
On-chain data shows that a variety of cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
Bitcoin was quick to rebound from the $80,000 region following a sharp correction from its October ATH, with price holding above the average entry levels of key metrics. The meeting of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis in the low $80,000 range draws this zone as a major structural support.
