CryptoQuant: Bitcoin Needs to Hold Trader Cost Basis to Target $96,500
- —Active traders' estimated cost basis is about $68,900
- —The indicator's upper band sits near $96,500
- —In 2019, 2020 and early 2023 price reclaimed the cost level, then retested it as support
- —Staying below the cost level would signal heavier selling pressure
Why it matters: Holding the cost basis as support has historically opened the path toward the upper band, while losing it makes any recovery more fragile.
Source: Koin Bülteni