Bitcoin price threatens $77.7K support loss with recent buyers underwater
Bitcoin fell below the realized price of the one-to-three-month-old buyer cohort in a move that risked flipping it to new resistance.
Bitcoin (BTC) is facing potential support issues as recent buyers now find themselves underwater, with their cost basis acting as new resistance at $77,700. According to analysis from onchain analytics platform CryptoQuant, BTC is trading below this critical price level, which historically served as upward-trending support during Bitcoin bull markets.
The Trader Onchain Realized Price of BTC/USD is currently around $76,500, indicating a significant loss for recent buyers. This price drop below the Trader Realized Price, after previously trading above it since August 19, suggests a narrowing gap between price and cost basis, potentially exposing underwater traders to exit opportunities.
Bitcoin is also approaching the realized price of another support line - short-term holders (STHs) with a cost basis of $75,832. This price level, if breached, could expose STHs to a "tactical capitulation" or "short trap," a psychological support level described as an area of significant value.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
