The first time in its history, the price ofBTCUSD has seven consecutive red weekly candles.
What Happened? According to data from Benzinga Pro, BTC fell to a low of $25,400 last Thursday. Over the last seven weeks, BTC has lost 50% of its value. BTC was trading at $46,700 at the beginning of April.
The leading digital asset was trading at $30,400 with a trading volume of $28 billion at the time of writing.
See also: Last week's selloff sent the price ofBTC to within 6% of the Realized Price, per analysis from Glassnode.
The realized price is the average cost basis of all BTC, and was last visited briefly in March 2020. Glassnode wrote on Twitter that it has been a strong support forBitcoin.
The On-chain analysis showed that the Bitcoins Accumulation Trend Score hit very high values between 0.7 and 0.9 at lower prices.
Glassnode said that a large cross-section of the Bitcoins market has added significant value to their BTC balance. It shows that investors saw value, a combination of the realized price and the realized price.