Bitcoin has reached a historical on-chain metric known as the “warm supply” realized price. This indicates that current holders of Bitcoin are in a state of profit. The warm supply refers to the portion of Bitcoin supply that was last moved on the network between one week and six months ago.
The warm supply is of interest because it provides insights into investor behavior, as opposed to the more liquid “hot supply” that is frequently involved in transactions.
Currently, the Bitcoin realized price for the warm supply is hovering around $28,151. By breaking above this level, Bitcoin has managed to surpass an important threshold.
If Bitcoin can maintain its position above this level, it may signal the beginning of a new uptrend for the cryptocurrency. As of now, Bitcoin is trading at around $28,600, representing a 4% increase in the past week.
Source: BITCOINST
