Bitcoin trades around $77,400 in key supply cluster, James Van Straten notes

Bitcoin trades around $77,400 in key supply cluster, James Van Straten notes
Bitcoin price near major supply cluster

James Van Straten highlights that the current bitcoin price of $77,400 is situated within what may be the largest supply cluster.

He provides several key levels, including 15% of the bitcoin supply resting between $83,000 and $85,000, ETF cost basis at $82,000, 200-day moving average at $81,000, short-term holder cost basis at $78,200, TMM at $78,100, and Strategy's cost basis at $75,700. An additional technical level, the 128-day moving average, stands at $75,000.

Van Straten previously analyzed Strategy's December 2022 tax harvest, noting the sale and buyback resulted in a net gain of 106 BTC for the firm (full article). He has also reported on macroeconomic trends, such as the UK 10-year gilt yield climbing back above 5 percent after earlier declines (details). These earlier commentaries provide context for his latest observations on bitcoin supply levels.

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