If you are longing every breakout without checking where trapped holders sit, stop now.
Too many traders keep buying local highs only to get dumped on by investors who have been waiting months just to get their money back.
The market is celebrating the push above $87k, but treating this as clear skies ignores heavy on-chain supply. The first major wall sits right around $89k, which marks the average cost basis for $BTC buyers from 6 to 12 months ago. That cohort has endured months of brutal drawdown, and human psychology tells us a massive chunk will hit sell the second they break even.
Some analysts argue current momentum will slice through overhead liquidity just like previous breakout legs on $ETH . But look further up around the $97k level. That zone represents the breakeven point for 1 to 2 year holders and aligns with major historical resistance. Expecting price to effortlessly absorb two massive waves of trapped supply without significant pullbacks is unrealistic.
Are we pushing straight through to six figures or getting rejected at the $89k breakeven wall?
#Bitcoin #CryptoTrading #Binance
Too many traders keep buying local highs only to get dumped on by investors who have been waiting months just to get their money back.
The market is celebrating the push above $87k, but treating this as clear skies ignores heavy on-chain supply. The first major wall sits right around $89k, which marks the average cost basis for $BTC buyers from 6 to 12 months ago. That cohort has endured months of brutal drawdown, and human psychology tells us a massive chunk will hit sell the second they break even.
Some analysts argue current momentum will slice through overhead liquidity just like previous breakout legs on $ETH . But look further up around the $97k level. That zone represents the breakeven point for 1 to 2 year holders and aligns with major historical resistance. Expecting price to effortlessly absorb two massive waves of trapped supply without significant pullbacks is unrealistic.
Are we pushing straight through to six figures or getting rejected at the $89k breakeven wall?
#Bitcoin #CryptoTrading #Binance