[Grayscale: Bitcoin Price May Have Formed a Stable Bottom in the $65,000 to $70,000 Range] Grayscale's Head of Research, Zach Pandl, pointed out in the latest report that Bitcoin's price has rebounded over 20% from its February 5 low of approximately $63,000 to around $76,000, slightly above the average cost basis of recent buyers. Since the Bitcoin blockchain is fully transparent, the cost basis of every transaction can be tracked. Analysts often focus on the 'realized price' metric, which is the weighted average price of tokens during their last on-chain movement. The realized price of Bitcoin traded in the past one to three months is approximately $74,000, indicating that recent buyers have returned to the breakeven point. If Bitcoin's price rises further in the coming days, more recent buyers will turn profitable, potentially signaling the beginning of the first phase of a bull market.