The post Bitcoin’s New ‘Line In The Sand’ May Be $82,000, Not $56,000: Analyst appeared on BitcoinEthereumNews.com. An analyst has explained how Bitcoin’s bottom in the current cycle may not follow the same pattern as historical bear markets. Bitcoin Could Bottom Around True Mean Price Instead This Time In a new post on X, Checkonchain co-founder Alec Dejanovic has talked about a couple of pricing models related to Bitcoin. The first of these is the “Realized Price,” keeping track of the cost basis of the average investor on the BTC network. When the BTC spot price is trading above this level, it means that the network as a whole is in a state of net unrealized profit. On the other hand, the asset being under the metric suggests that the average token is being held at some loss. This indicator has displayed an interesting relationship with the cryptocurrency in the past. “Historical Bitcoin bears usually bottom around the Realised Price level,” explained Dejanovic. Below is the chart shared by the analyst that shows this effect in action.   As is visible in the graph, the 2015, 2018, and 2022 bear markets all found their bottoms when the Bitcoin spot price plunged under the Realized Price. Even the COVID crash in 2020 bottomed out below the indicator. The explanation behind this pattern could lie in the fact that below this line, the majority of the network can be considered underwater, so there wouldn’t be many profit-takers left. In these conditions, resolute entities take coins off investors capitulating at a loss and selling pressure slowly reaches exhaustion, allowing BTC to regain its footing. Today, the Realized Price is situated at $56,000. Considering the past pattern, perhaps this cycle’s bear market would also bottom out around or below this level. Dejanovic thinks things can go differently this time, however, saying, “with ETF flows remaining resilient and no FTX-style fraud in… The post Bitcoin’s New ‘Line In The Sand’ May Be $82,000, Not $56,000: Analyst appeared on BitcoinEthereumNews.com. An analyst has explained how Bitcoin’s bottom in the current cycle may not follow the same pattern as historical bear markets. Bitcoin Could Bottom Around True Mean Price Instead This Time In a new post on X, Checkonchain co-founder Alec Dejanovic has talked about a couple of pricing models related to Bitcoin. The first of these is the “Realized Price,” keeping track of the cost basis of the average investor on the BTC network. When the BTC spot price is trading above this level, it means that the network as a whole is in a state of net unrealized profit. On the other hand, the asset being under the metric suggests that the average token is being held at some loss. This indicator has displayed an interesting relationship with the cryptocurrency in the past. “Historical Bitcoin bears usually bottom around the Realised Price level,” explained Dejanovic. Below is the chart shared by the analyst that shows this effect in action.   As is visible in the graph, the 2015, 2018, and 2022 bear markets all found their bottoms when the Bitcoin spot price plunged under the Realized Price. Even the COVID crash in 2020 bottomed out below the indicator. The explanation behind this pattern could lie in the fact that below this line, the majority of the network can be considered underwater, so there wouldn’t be many profit-takers left. In these conditions, resolute entities take coins off investors capitulating at a loss and selling pressure slowly reaches exhaustion, allowing BTC to regain its footing. Today, the Realized Price is situated at $56,000. Considering the past pattern, perhaps this cycle’s bear market would also bottom out around or below this level. Dejanovic thinks things can go differently this time, however, saying, “with ETF flows remaining resilient and no FTX-style fraud in…