Bitcoin Recovers ETF Cost...Has the Real Rebound Begun?

▲ Bitcoin (BTC) ETF

Bitcoin (BTC) has recovered the average purchase price of spot ETF investors, entering a critical turning point for market structure transformation.

According to crypto media outlet Coingape on April 14 (local time), Bitcoin surged over 5% in the last 24 hours, rebounding to around $75,000. On-chain analyst Axel Adler Jr. analyzed that the current price matches the average purchase price of US spot ETF investors, which is $74,232. The price, which had remained below this level for weeks, has now entered the breakeven zone, indicating a shift in investor sentiment.

Maintaining above $74,232 is the primary condition for market structure stability. If the price stays above this level, it is interpreted as a signal of moving out of unrealized loss and transitioning to a neutral phase. Conversely, if this level is breached, the market structure could revert to a vulnerable trend.

The selling pressure from short-term holders remains a variable. The average purchase price for short-term holders is $83,734, approximately $9,000 higher than the current price. As the price rises, breakeven selling volume will emerge at this level, acting as strong resistance. Conversely, long-term holders, with an average purchase price of $43,018, maintain a stable profit zone and are not exerting immediate selling pressure on the market.

The current price range is where liquidity and liquidation volumes are concentrated. Bitunix analysts identified $75,000 as a major resistance level and explained that approximately $600 million in liquidations could occur in the $75,600 range. If this level is broken, a short-term liquidity-driven rally could expand.

At the bottom, $73,400 acts as a key support level. If this level breaks, the price will move into a low-liquidity zone, entering a readjustment phase.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*