CryptoQuant data shows Bitcoin trading around $76,500, below the $77,700 average purchase price of buyers who entered one to three months earlier. A CryptoQuant contributor warned that $77,700 could become resistance if buyers who are at a loss sell when the price returns to their break-even point.
The analysis places a lower price band at $68,400, where that group would have an aggregate loss of 12%; it does not say Bitcoin will fall that far. Bitcoin is also nearing the $75,832 average purchase price of short-term holders, who have held their coins for up to 155 days.
