Bitcoin’s cost-basis heatmap identifies the $85,000 price range as a significant support level in the ongoing market cycle. Approximately 976,000 BTC were bought near this value, representing an estimated total investment of $83 billion based on blockchain analytics.
This area signifies a major buying zone where investors accumulated substantial amounts of Bitcoin. The heatmap analyzes acquisition data at the wallet level, pinpointing specific price points with high purchase volumes. Such dense clusters typically serve as strong support during price pullbacks since holders are generally reluctant to sell below their entry prices.
Should Bitcoin revisit the $85K mark, this sizable concentration of previously acquired coins could provide considerable resistance against downward movement and help stabilize the market.
Bitcoin’s cost-basis heatmap identifies the $85,000 price range as a significant support level in the ongoing market cycle. Approximately 976,000 BTC were bought near this value, representing an estimated total investment of $83 billion based on blockchain analytics.
This area signifies a major buying zone where investors accumulated substantial amounts of Bitcoin. The heatmap analyzes acquisition data at the wallet level, pinpointing specific price points with high purchase volumes. Such dense clusters typically serve as strong support during price pullbacks since holders are generally reluctant to sell below their entry prices.
Should Bitcoin revisit the $85K mark, this sizable concentration of previously acquired coins could provide considerable resistance against downward movement and help stabilize the market.