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The $85K Test for Bitcoin
Bitcoin has slipped below $85,000, and now everyone is asking what caused the drop.
But maybe the better question is being overlooked.
The common market narrative is that a large number of holders have their cost basis around $84K–$85K, making this zone an important area of support.
But there’s another way to look at it.
What does a heavy concentration of cost bases actually tell us about $BTC?
It could reveal where traders are most likely to react.
#DailyOrbit
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