фото показано с : zycrypto.com

Following the intense pull exerted by the bears in the past months, especially in June, the crypto markets have struggled to recover some of the losses incurred, with a series of periodic relief rallies staged in July. Following the recent consolidation of the past week, BTC is finally trading above the realized price again, indicating bullish signs.

According to a chart provided by crypto analytics platform CryptoQuant, the Bitcoin realized price currently sits at $20.5k – a value the asset has comfortably broken past, as it trades above the $20k mark, with the markets showing signs of further rallies.

Trading above the realized price indicates that the bulls are about to take control of the space, as it shows that most market participants are currently in profit. The realized price of Bitcoin is the average purchasing cost of the asset – it is essentially the ratio of all BTCs at the price they were purchased to the number of BTCs in circulation.

The month of June brought the most challenging levels of the Crypto Winter, with assets plummeting to record lows. BTC was not spared in this downturn. The markets saw slight gains at the beginning of July, led by BTC. The gains were quickly shed in the first week of July, but a subsequent rally ensued from July 7, bringing consolation to the space.

A few analysts noted that the rally was not to be trusted because it began at the weekend, citing a lack of concrete foundation. Regardless, BTC continued until it caught up at the $22k mark – an impressive increase from its $19k zone consolidation in June’s later days.

BTC has continued to swell, reaching a 1-month peak of $24,196 on July 20 before plunging again. After falling to a low of $20,776 on July 26, some analysts predicted further declines, especially as the asset was bearishly trading below the realized price, indicating possible losses for holders.

As the entire financial space, including the crypto community, awaited the FOMC meeting in which the Fed would reveal its benchmark rate increase, investors expected further declines in the crypto markets. However, after an interest rate increase by 75 basis points was revealed amidst the recovering markets, crypto assets have persisted in their rallies.

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