47,025 BTC sent to exchanges by short-term holders at a loss — the decisive level is 75,700.
Context: Bitfinex (Nov 11) noted that BTC had spent 4 consecutive days below the short-term holder cost basis of around 75,700 — buyers from the past 155 days are, on average, sitting at a loss. CryptoQuant recorded 47,025 BTC sent to exchanges by STHs at a loss over the past 24 hours, as BTC briefly touched 72,670, its lowest level in 11 weeks. The price is now around 74,500, still below that level and below the key zone at 77,684.
Bullish scenario: BTC reclaims and holds above 75,700. Since 2016, 11 of 14 similar cases recovered within 2 weeks — if the pattern repeats, Nov 22 is the date to watch. Next confirmation: 77,684.
Bearish scenario: rallies keep stalling below 75,700, followed by a daily close below 73,000. According to CryptoQuant, that would strengthen the case for a continuation of the bear market, with the next support at 72,700.
My conclusion: I’m leaning cautious. The 75,700 level is a dividing line, not a place to guess — I’ll wait for a daily close above 75,700 before taking a stronger position.
This is my analysis, not financial advice — always DYOR.
What do you think: will 75,700 be reclaimed before Nov 22, or will 73,000 break first?
#Bitcoin #OnChain $BTC
Context: Bitfinex (Nov 11) noted that BTC had spent 4 consecutive days below the short-term holder cost basis of around 75,700 — buyers from the past 155 days are, on average, sitting at a loss. CryptoQuant recorded 47,025 BTC sent to exchanges by STHs at a loss over the past 24 hours, as BTC briefly touched 72,670, its lowest level in 11 weeks. The price is now around 74,500, still below that level and below the key zone at 77,684.
Bullish scenario: BTC reclaims and holds above 75,700. Since 2016, 11 of 14 similar cases recovered within 2 weeks — if the pattern repeats, Nov 22 is the date to watch. Next confirmation: 77,684.
Bearish scenario: rallies keep stalling below 75,700, followed by a daily close below 73,000. According to CryptoQuant, that would strengthen the case for a continuation of the bear market, with the next support at 72,700.
My conclusion: I’m leaning cautious. The 75,700 level is a dividing line, not a place to guess — I’ll wait for a daily close above 75,700 before taking a stronger position.
This is my analysis, not financial advice — always DYOR.
What do you think: will 75,700 be reclaimed before Nov 22, or will 73,000 break first?
#Bitcoin #OnChain $BTC