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Bitcoin surpasses short-term holder cost basis at $79,100, Joe Consorti confirms
Joe Consorti, industry influencer, reports that Bitcoin has reclaimed an important on-chain level that previously confirmed the end of the 2022 bear market.
According to Consorti, Bitcoin has moved above the short-term holder cost basis of $79,100 for the first time since the start of the bear market. He suggests that if BTC holds this level, the bull market may be returning.
Consorti has highlighted comparisons between Tether’s gold-backed reserve strategy and STRC, raising questions over different industry scrutiny. In an earlier note, he pointed out Paul Tudor Jones’s view of Bitcoin as the greatest scarcity asset during a U.S. Federal Reserve leadership transition. His comments continue to track key developments in digital asset markets.
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