A report from the on-chain analytics firm Glassnode has revealed a Bitcoin price region that could prove to be crucial for the bulls.<\/p>\n
In its latest weekly report, Glassnode<\/a> has discussed the Bitcoin investor cost basis from various angles. The first indicator that the analytics firm has shared is the \u201cUTXO Realized Price Distribution<\/a>\u201d (URPD), that basically tells us about how the BTC supply is distributed among the different price levels based on the last transaction value.<\/p>\n First, here is how this metric looked before the recent price crash:<\/p>\n As is visible in the chart, very few coins had their cost basis between $70,000 and $92,000 before the crash. In on-chain analysis, investor cost basis is considered an important topic, as holders are more likely to make some kind of move when their profit-loss status is threatened. Since this range contained the acquisition level of only a small part of the supply, it was sort of an \u201cair-gap\u201d in terms of potential demand.<\/p>\n This may be why BTC easily slipped deep into this region when the crash came. So far, though, the bulls have come through in providing support, as they have since participated in some buying in this vacant region, changing the URPD.<\/p>\n Thus, the range is now better set up to provide support than before, although it\u2019s still sort of an empty region when compared to the other Bitcoin cost basis centers.<\/p>\n The second indicator that Glassnode has talked about is the Realized Price<\/a> of the short-term holders. The \u201cRealized Price\u201d is a term that was also in the full form of URPD. What this metric measures is the cost basis of the average investor belonging to a part of the BTC userbase.<\/p>\n