On average, Bitcoin owners have average acquisition costs that sit below the market rate, implying that in total the Bitcoin holders are at a break-even point at around the $119,400 mark.
@AxelAdlerJr demonstrated this report in his latest X post. With Bitcoin trading at a high of about 119,000, it is yet again confronting the vital $120,000 resistance.
Bitcoin Buyer Price Groups
The average price of Bitcoin, categorized by the holding period, is as follows:
- The average purchase price of holders who got BTC in the past 24 hours was $119,193, 0.2% higher than the previous computation. Â
- The 1-day to 1-week cohort investors have their share at $117,762, with an increase of 1.4 percent. Â
- Individuals whose holding period is between 1 week and 1 month have an average of $115,252, and this represents an increase of 3.6 percent. Â
Combined with these numbers, they suggest that the majority of the active holders bought under a price of $119400.
Market Implications
Selling Bitcoin at its current price may not interest most holders because they are either already making small profits or are only slightly below breaking even.
Historically, the average cost basis has often converged with the spot price, which has provided support for Bitcoin and subsequently led to new rallies.
The fact that new buyers are averaging only a shade above $119,000 clearly indicates their intention to ‘stock up’ at or around the current price, thereby reinforcing demand in the area below $120,000.
Outlook: Putting 120K Resistance to the Test
The struggle for Bitcoin to regain its value at 120k is crucial. Convincing above-the-level close might open new purchasing, attracting traders who capitalize on bull trends, as well as promoting short parcelling.
On the contrary, failure to maintain above $119,000 can trigger another test of the main supports at $115,000, which is consistent with the mean entry level of the 1‑month group.
With the market seeking catalysts in the form of macroeconomic data or some institutional-driven buying, Bitcoin has a transparent system of valuation in the form of its average holder cost when assessing risk and reward.
Investors and traders will be eager to find out whether $120,000 will hold as resistance or if consolidation will push prices below this figure.
