Study: If BTC Price Stays Above 200-Day Moving Average of $639,000, Rebound Makes Technical Sense

On September 26, Glassnode noted in research published on September 25 that bitcoin has recovered about $619,000 of its short-term holder cost basis following the Federal Reserve's 0.5% rate cut. If the price also stays above the 200-day moving average of $639,000, the rally could be technically significant. This is because Bitcoin has recovered its short-term holder cost basis ($619,000) and 200DMA ($639,000). In addition, new investors have shown some resilience with relatively small actual losses, indicating confidence in the overall uptrend. The perpetual futures market has shown a cautious recovery in sentiment, with demand gradually increasing but still below the levels seen during the strong bull market.