#比特币跌破8.4万美元
Below $84,000, only the latest cohort of buyers across the market is still underwater—and their cost basis happens to be $88,000 🦖
📈 进群一起分析行情
On October 7, Bitcoin slid from its September high of $87,500 to below $84,000. On-chain data provider checkonchain laid out the average cost basis of buyers across different years. The result: only the 2025 cohort is still underwater, with an average purchase price of around $88,000.
In other words, the current price is still about $4,000 short of their break-even point. These aren’t the oldest buyers, but the newest cohort. Their cost basis is right overhead, creating sell pressure from investors looking to break even. That’s why $88,000 has suddenly become so difficult to break through.
Looking lower, support levels aren’t just drawn at random. The average cost basis for U.S. spot Bitcoin ETFs is $82,300. This figure represents the average cost of all capital invested through ETF creations. ETF investors have only just returned to profit this year. If the price falls further, some may choose to add to their positions rather than sell at a loss.
There are two more levels below. Buyers who entered in 2026 have an average cost basis of about $73,500. They’ve been in profit ever since Bitcoin moved above that level in late August. Buyers from 2023 have a cost basis of around $65,000. That level held repeatedly during the 2026 bear market, with the price dipping below it for only a very short time 📉
The most interesting part is the historical pattern. The 2024 cohort’s cost basis is around $82,100. In May this year, Bitcoin was rejected at $82,100 and fell all the way to $60,000, only reclaiming that level in August. In other words, the same cost-basis level first acted as resistance, then as support, within six months ⚖️
My take: Bitcoin is currently caught between two levels. Above is the $88,000 break-even sell pressure from 2025 buyers; below is the ETF cost basis at $82,300. As long as the price doesn’t break below the lower level on heavy volume, consolidation is likely to remain the main trend. For a real change in direction, watch whether ETF flows continue to provide support or start to weaken 📊
When did you enter the market? Is your cost basis above or below $88,000? Let’s talk in the comments 🦖
Tap the profile picture to watch the livestream
Every day, I’ll keep you up to date on Bitcoin’s hot topics—not just what’s happening in the news, but also the logic and opportunities behind it 👀🚀
Below $84,000, only the latest cohort of buyers across the market is still underwater—and their cost basis happens to be $88,000 🦖
📈 进群一起分析行情
On October 7, Bitcoin slid from its September high of $87,500 to below $84,000. On-chain data provider checkonchain laid out the average cost basis of buyers across different years. The result: only the 2025 cohort is still underwater, with an average purchase price of around $88,000.
In other words, the current price is still about $4,000 short of their break-even point. These aren’t the oldest buyers, but the newest cohort. Their cost basis is right overhead, creating sell pressure from investors looking to break even. That’s why $88,000 has suddenly become so difficult to break through.
Looking lower, support levels aren’t just drawn at random. The average cost basis for U.S. spot Bitcoin ETFs is $82,300. This figure represents the average cost of all capital invested through ETF creations. ETF investors have only just returned to profit this year. If the price falls further, some may choose to add to their positions rather than sell at a loss.
There are two more levels below. Buyers who entered in 2026 have an average cost basis of about $73,500. They’ve been in profit ever since Bitcoin moved above that level in late August. Buyers from 2023 have a cost basis of around $65,000. That level held repeatedly during the 2026 bear market, with the price dipping below it for only a very short time 📉
The most interesting part is the historical pattern. The 2024 cohort’s cost basis is around $82,100. In May this year, Bitcoin was rejected at $82,100 and fell all the way to $60,000, only reclaiming that level in August. In other words, the same cost-basis level first acted as resistance, then as support, within six months ⚖️
My take: Bitcoin is currently caught between two levels. Above is the $88,000 break-even sell pressure from 2025 buyers; below is the ETF cost basis at $82,300. As long as the price doesn’t break below the lower level on heavy volume, consolidation is likely to remain the main trend. For a real change in direction, watch whether ETF flows continue to provide support or start to weaken 📊
When did you enter the market? Is your cost basis above or below $88,000? Let’s talk in the comments 🦖
Tap the profile picture to watch the livestream
Every day, I’ll keep you up to date on Bitcoin’s hot topics—not just what’s happening in the news, but also the logic and opportunities behind it 👀🚀
