Bridgewater Associates Founder Ray Dalio Reveals His Bitcoin Position
Intermediate
Daily Bits
1 min read
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Chart of the Day
The week of unprecedented capitulation has finally come to an end — or a pause, at the very least. As the price of Bitcoin remains well-bid above $35k, charts are turning green with a fresh increase against the $37k resistance. The net unrealized profit and loss metric has reset to below 0.5, indicating that 50% of the Bitcoin market cap is in profitable coins. Historical data points to multiple resets in past cycles. However, this is only the first touchdown in the current cycle. Watch this space.