The Bitcoin (BTC) long-term total cost base has reached an unprecedented low, according to on-chain data from Glassnode. This development coincides with a robust redistribution of Bitcoin supply following its price decline from previous highs. This week, BTC broke free from its consolidation zone, surpassing $48,000—a critical resistance level.
Healthy Redistribution Signals Market Maturity
Glassnode’s LTH Realized Cap 30-day Net Position Change Z-Score indicates a historic low, reflecting a substantial drop in long-term holders' cost basis. This metric underscores a healthy supply redistribution, with a new price floor stabilizing between $38K–$45K.
👉 Why Bitcoin’s supply redistribution matters for investors
During the $35K–$45K consolidation phase, Bitcoin experienced significant supply reshuffling—fewer long-term holders and more short-term entrants. This shift presents accumulation opportunities as the market anticipates upward momentum.
Catalysts Behind Bitcoin’s Price Surge
Several factors are fueling BTC’s rally:
- Institutional Adoption: The LUNA Foundation Guard’s Bitcoin acquisitions for its UST stablecoin.
- Geopolitical Shifts: Russia’s exploration of BTC for oil/gas payments.
- Corporate Moves: ExxonMobil’s plans to mine Bitcoin using natural gas.
- Whale Activity: High-profile accumulations by figures like Michael Saylor and Elon Musk as a hedge against inflation.
Bitcoin Adoption and Price Trajectory
Bitcoin’s weekly gain of 12% (trading near $47,076**) reflects growing adoption. While the price dipped **1.51%** from its 24-hour peak of **$48,086, on-chain data suggests a push toward $50,000—the next psychological threshold.
| Key Metrics | Values |
|---|---|
| Market Cap | $899 billion |
| Weekly Price Change | +12% |
| Current Price | $47,076 |
FAQs: Addressing Common Queries
Q: Why is Bitcoin’s cost base at a historic low?
A: Long-term holders’ reduced cost basis indicates profit-taking and supply redistribution, creating a healthier market foundation.
Q: What’s driving BTC’s price surge?
A: Institutional buys, geopolitical adoption, and corporate mining initiatives are key catalysts.
Q: Will BTC reach $50K soon?
A: On-chain data and accumulation patterns suggest a strong possibility, though market volatility persists.
👉 How to leverage Bitcoin’s current market trends
Varinder, a fintech veteran with a decade of experience, specializes in blockchain and Web3. As CoinGape’s editorial lead, he ensures high-impact crypto reporting. His expertise spans two Bitcoin halving events, making him a trusted voice in the industry.
Why Trust This Analysis?
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Disclaimer: This article reflects market conditions and the author’s views. Conduct independent research before investing.
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