Analysis: Bitcoin Never Truly Crossed $100K, Adjusted for Inflation
- Real Value Analysis: Alex Thorn from Galaxy Digital highlights that while Bitcoin peaked at $126,000, its inflation-adjusted value in 2020 dollars is only $99,848, reshaping market perceptions of Bitcoin's historical highs and emphasizing the importance of inflation in asset valuation.
- Inflation Impact: By using 2020 as a baseline, Thorn reveals that Bitcoin's nominal achievement of surpassing $100K fails to reflect its true purchasing power, prompting investors to reassess cryptocurrency valuation standards in light of inflation.
- Market Reflection: This perspective serves as a reminder to investors that nominal prices are not everything; should Bitcoin exceed $100K again, understanding its real value in today's dollars will be crucial for investment decisions and market expectations.
- Industry Maturity: As the crypto sector evolves, Thorn's insights may inspire more traders and analysts to adopt rigorous valuation methods, thereby pushing the industry towards a more mature approach to value assessment.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36103.034 | 48051.517 | 60373.054 | 72321.537 | 84643.074 | 96591.557 | 108913.094 |
| Fibonacci | 48051.517 | 57322.665 | 63050.389 | 72321.537 | 81592.685 | 87320.409 | 96591.557 |
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