Analyst: $75,000 Is the Key Support Zone for Bitcoin
- —US spot Bitcoin ETFs lost $679 million last week, the largest weekly outflow in nearly four months
- —Strategy bought 250 BTC for $21.5 million while spending $192.4 million on STRC share buybacks
- —Strategy holds 848,250 BTC at an average purchase price of $75,444
- —Bitcoin futures open interest on Binance fell from 97,400 to 92,400 BTC over the week
Why it matters: The $75,000 level aligns with the average cost basis of Strategy and short-term holders, making it the deciding line for Bitcoin's next major move.
Source: Coinpedia