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Bitcoin Cost Basis Analysis: ETF/Custodial Wallets at $65,000, Mining Companies at $45,000
Bitget2024/08/06 03:33
CryptoQuant CEO Ki Young Ju posted on X stating that data shows the cost basis for Bitcoin as follows: -ETF/Custodial Wallets: $65,000; -Bn Traders: $55,000; -Mining Companies: $45,000. During past market downturns (May 2022, March 2020, November 2018), falling below this level confirmed a bear market; -Old Whales: $22,000.
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