Key Points:Bitcoin slipped to $112,000 ahead of Powell’s Jackson Hole speech, aligning with the average cost basis of coins held <3 months. On-chain analyst Murphy says this level is crucial for short-term sentiment, as it marks the breakeven for the most active BTC holders. Selling pressure has eased, with investors showing anxiety but no panic, suggesting cautious stability. Bitcoin Tests $112K Support Ahead of Fed SpeechBitcoin’s price correction to $112,000 on Thursday has highlighted a crucial on-chain support zone, according to data shared by analyst Murphy via BlockBeats
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