Bitcoin traded at around $76,500, below the $77,700 average cost basis of buyers who entered one to three months earlier, according to CryptoQuant data. A CryptoQuant contributor warned that $77,700 could become resistance if buyers who are now at a loss sell when the price returns to their break-even point.
CryptoQuant’s nearest lower price band was $68,400, representing a 12% aggregate loss for that group; it is not a guaranteed floor. The broader group of short-term holders had a cost basis of $75,832, so they were approaching, but had not yet reached, an aggregate loss at the reported price.
