David Hoffman Comments on Bitcoin's Position at 200-Week Moving Average

David Hoffman, co-founder of Bankless, recently shared his views on Bitcoin's current price position at the 200-week moving average (MA). According to Odaily, Hoffman noted that historically, Bitcoin has only effectively fallen below this average during the bear market triggered by the collapses of Terra, Three Arrows Capital, and FTX, which led to significant systemic crises in the crypto industry. Hoffman believes that the market risks associated with Michael Saylor's Strategy, such as the introduction of convertible bonds, do not compare to the impact of those past crises. Additionally, he disclosed his holding costs for various cryptocurrencies: NEAR at approximately $1.4, HYPE at around $45, and ZEC at about $560.