Bitcoin is currently trading near a critical zone, as recent on-chain data highlights the average cost basis for many spot ETF holders.

It is fascinating to see how the market reacts when we hit these specific price points. Recent data shows that roughly 4 million Bitcoin were acquired at price levels above 85,000. This cluster of holdings acts as a significant psychological and technical benchmark for the current market cycle.

When we look at the on-chain activity, it becomes clear that many investors are sitting right around their break-even point. This often creates a situation where holders might feel hesitant to move their assets, effectively creating a ceiling for potential near-term recovery until the market sentiment shifts.

This situation follows a period where the Federal Reserve decided to keep interest rates s

Why it matters 💡

For those keeping an eye on the charts, this data suggests that the 85,000 level is a key area to monitor for signs of increased activity. It is always worth watching how these large cohorts of holders react when the market tests their entry points, as it helps us understand the current supply dynamics better.

4H signal view on $BTC 📊

Short 🔴

Entry 82,639 - 82,903

TP 82,035 - 81,299 - 80,563

SL 83,507

Setup: Nến nhấn chìm giảm | Nến rút râu tại đỉnh 20 nến.

RSI 58 still has room to move. MACD momentum is leaning up. This one goes against the EMA200 trend.

$BTC $XAU $SOL #BTC #OnChain #Bitcoin #CryptoMarket #MarketAnalysis

ℹ️ News roundup from public sources, not financial advice.