4 key Bitcoin metrics suggest $80K BTC price is a discount
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Bitcoin price fails to find upward momentum, but multiple data points prove BTC currently trades at a discount.
Bitcoin (BTC) price dropped from $87,241 to $81,331 between March 28 and March 31, erasing gains from the previous 17 days. The 6.8% correction liquidated $230 million in bullish BTC futures positions and largely followed the declining momentum in the US stock market, as the S&P 500 futures fell to their lowest levels since March 14.
Despite struggling to hold above $82,000 on March 31, four key indicators point to strong investor confidence and potential signs of Bitcoin decoupling from traditional markets in the near future.
S&P 500 index futures (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph
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