Bitcoin was still trading above $70,000 at publication, putting the weekly close at the center of market attention. The source notes that recent weekly closes above $68,000 have helped reduce the risk of another round of selling, while $72,000 remains the main resistance level for any move that can extend higher. Analyst Nic said this week’s candle carries unusual weight, and the closing level matters.
Nic said Bitcoin is close to posting a fourth straight negative weekly close, with price hovering around $70,000 and nearing the previous cycle’s all-time high. He added that a green weekly close, combined with support holding above $69,000, would offer the market some relief. A short line, but an important one. That zone is not just a chart marker; it is where short-term conviction is being tested.
Loan demand stays firm despite sharp market swings
The article says the crypto market has taken a notable hit in recent sessions, yet signs of stability are starting to appear. Volatility remains high, but demand for crypto-backed loans has stayed solid, which the report presents as evidence that participants still see value in digital assets even during abrupt price moves.
According to data cited from Nexo, loans totaling $863 million were issued between January 2025 and January 2026, while users borrowed roughly $1 billion over the same period. More than 30% of borrowers were repeat users, indicating that these services are being used on an ongoing basis rather than only for one-time activity. The report also says the total crypto market cap has fallen about 50% since the all-time high recorded on October 6, 2025.
$73,000 cost basis now acts as a key reference point
CryptoQuant analyst Darkfost pointed to investor cost basis as one of the most important figures to watch. His estimate places the realized price for active Bitcoin investors at around $73,000. This measure excludes holders who have kept BTC for more than seven years, on the grounds that they no longer actively shape current market behavior, and because part of that supply is considered lost.
With Bitcoin trading near $70,000, the market is now below the cost basis of those active investors. Darkfost said this setup has historically appeared only during advanced phases of notable bear markets. A move back above that range would be the first constructive signal that the worst stretch may be fading. For now, the market is watching whether $70,000 can hold as support and whether Bitcoin can push into the $72,000 to $73,000 band.