Bitcoin is moving close to the average cost basis of two holder cohorts, according to CryptoQuant analyst Darkfost. He said investors who have held BTC for 18 months to 2 years have an average cost basis of about $88,350, while the 6- to 12-month cohort sits near $89,200. Darkfost stressed that cost basis levels are not automatic support or resistance zones. Instead, they represent the average entry price of each group and can become areas where holder behavior starts to shift.
As BTC approaches that range, he described it as a potential risk zone rather than a clear technical floor or ceiling. Darkfost added that the 6- to 12-month holder group has been underwater for nearly a year, suggesting some may have bought near market highs. From here, some investors may choose to sell once they can break even, while others may continue accumulating in an effort to lower their average entry price. In his view, both responses could affect Bitcoin’s current upside momentum.
Bitcoin is approaching the average cost basis range of two holder groups, according to a Oct. 2 note from CryptoQuant analyst Darkfost cited by BlockBeats.
Darkfost said investors who have held Bitcoin for 18 months to 2 years have an average cost basis of about $88,350. For holders in the 6- to 12-month group, the figure is about $89,200.
He said cost basis should not be treated as a natural support or resistance level. Instead, it reflects the average holding cost of a cohort. As Bitcoin moves toward that range, holder behavior may change, making the area a potential risk zone.
Darkfost also said the 6- to 12-month holder cohort has remained at a loss for nearly a year, with some investors likely having bought near market highs. From here, some may decide to sell after reaching break-even, while others may keep buying to lower their cost basis. He said both types of behavior could affect Bitcoin’s current upward momentum.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
