Bitcoin Consolidates Above True Market Mean Amid Hawkish Fed Comments
Since Federal Reserve Chairman Kevin Warsh's hawkish Jackson Hole keynote on August 28th, Bitcoin has remained relatively stable within a three percent-band between $76,500 and $79,500.
This stability is in line with predictions that BTC will continue to trade in a lower timeframe range.
The True Market Mean, or the average cost basis of every active investor on the network, currently stands at $76,350.