Research: If the BTC price remains above the 200-day moving average of $639,000, the rebound has technical significance

ChainCatcher message, Glassnode pointed out in a study released on September 25 that after the Federal Reserve cut interest rates by 0.5%, Bitcoin has reclaimed the short-term holder cost basis of approximately $619,000. If the price also remains above the 200-day moving average of $639,000, this rebound may have technical significance. This is because Bitcoin has reclaimed the short-term holder cost basis ($619,000) and the 200DMA ($639,000). Additionally, new investors have shown a certain level of resilience, with actual losses being relatively small, indicating confidence in the overall upward trend. The perpetual futures market has shown cautious signs of recovery, with demand gradually increasing, but still below the levels seen during a strong bull market.