{"id":71521,"date":"2026-04-23T00:44:58","date_gmt":"2026-04-23T00:44:58","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/grayscale-hints-at-bull-market-setup-as-bitcoin-holds-critical-breakeven-level\/"},"modified":"2026-04-23T00:44:58","modified_gmt":"2026-04-23T00:44:58","slug":"grayscale-hints-at-bull-market-setup-as-bitcoin-holds-critical-breakeven-level","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/grayscale-hints-at-bull-market-setup-as-bitcoin-holds-critical-breakeven-level\/","title":{"rendered":"Grayscale Hints at Bull Market Setup as Bitcoin Holds Critical Breakeven Level"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li>Grayscale signaled <span>bitcoin<\/span> may have bottomed as buyers return to breakeven levels.<\/li>\n<li>Markets show cost basis alignment, reinforcing a more stable <span>bitcoin<\/span> structure.<\/li>\n<li>Grayscale\u2019s head of research says further gains could confirm early stages of a new bull cycle.<\/li>\n<\/ul>\n<h2> <span>Bitcoin<\/span> Breakeven Levels Point to Stronger Positioning<\/h2>\n<p>Digital asset manager Grayscale signaled a potential turning point in <span>bitcoin<\/span> markets on April 21, citing on-chain data that may indicate a durable bottom. The firm pointed to strengthening price performance and improved investor positioning as early signs of a shift toward <span>bullish<\/span> conditions.<\/p>\n<p>Grayscale Research stated on social media platform X:<\/p>\n<blockquote>\n<p>\u201cGrayscale Research believes <span>BTC<\/span>\u2019s <span>blockchain<\/span> data could signal a durable market bottom has occurred.\u201d<\/p>\n<\/blockquote>\n<p>The firm added: \u201c$ <span>BTC<\/span> has rallied nearly 20% since February 5th. Recent buyers are back at breakeven around ~$74K.\u201d These remarks align with market behavior as <span>bitcoin<\/span> recovered from earlier weakness and approached the average cost basis of recent participants, reducing unrealized losses and easing potential sell pressure.<\/p>\n<p>On April 21, <span>bitcoin<\/span> traded at $75,577, remaining near the upper boundary of a recent recovery range after rebounding from a sharp early-February decline. The price stabilized following a steep selloff that briefly pushed <span>BTC<\/span> into the lower $60,000s. Recent candlesticks indicate modest consolidation just below resistance near $78,000. The broader short-term structure suggests strengthening resilience, with buyers consistently defending higher lows. Since then, <span>BTC<\/span> has advanced to $78,772 as of this writing.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"bitcoin market data\"><\/iframe> <\/p>\n<h2>Glassnode Data Supports Durable Market Bottom Case<\/h2>\n<p>Chart data shared by Grayscale Head of Research Zach Pandl showed <span>bitcoin<\/span> declining to roughly $63,000 in early February before rebounding to around $76,000 by April. The realized price for coins transferred within one to three months followed a different path, rising through much of 2025, peaking above $110,000 around late 2025, then trending downward into 2026 toward approximately $74,000. This downward adjustment in realized price, alongside recovering spot levels, brought the two metrics into alignment. The convergence indicates that recent buyers have returned to breakeven, a condition often associated with stabilizing market behavior and reduced forced selling.<\/p>\n<p><\/p>\n<p>The Grayscale head of research explained:<\/p>\n<blockquote>\n<p>\u201cIf <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>\u2019s price rises further in the coming days, more recent buyers would move into positive PnL, which can be an indicator for marking the first phase of a <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bull market<\/a>.\u201d<\/p>\n<\/blockquote>\n<p>\u201c <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin<\/a>\u2019s price is still well below its October highs, but many recent buyers are back to breakeven\u2014potentially signaling that <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> has put in a durable market bottom in the $65,000 to $70,000 range,\u201d he added. These observations underscore how on-chain cost basis metrics can help identify transitions in market cycles while supporting a constructive outlook.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/grayscale-hints-at-bull-market-setup-as-bitcoin-holds-critical-breakeven-level\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways: Grayscale signaled bitcoin may have bottomed as buyers return to breakeven levels. Markets show cost basis alignment, reinforcing a more stable bitcoin structure. Grayscale\u2019s head of research says further gains could confirm early stages of a new bull cycle. Bitcoin Breakeven Levels Point to Stronger Positioning [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":71522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/71521"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=71521"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/71521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/71522"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=71521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=71521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=71521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}