Bitcoin Faces Resistance as Last Underwater Buyer Cohort Remains
- The only yearly Bitcoin buyer cohort underwater is from 2025, with an average cost basis of approximately $88,000.
- Bitcoin reached a monthly high of $87,500 in September but has since retreated below $84,000.
- The current cost basis for the 2023 cohort is around $65,000, providing ongoing support.
- In May, Bitcoin climbed to approximately $82,100, matching the average cost basis for the 2024 cohort.
- Sell pressure from recent buyers may be impacting Bitcoin’s ability to break through resistance levels.
As Bitcoin approaches key price points related to various cohorts’ average purchase prices, some investors may attempt to exit at breakeven while others could add to their positions. The dynamics of these yearly volume-weighted cost bases continue to influence market behavior significantly.
Currently, the last underwater cohort from Bitcoin buyers in the year of purchase holds an average cost basis of $88,000 as resistance builds around this level.
