An analysis suggests that the average purchase price of Bitcoin investors is concentrated around $80,000, making this area a significant resistance level. According to Decrypt, Jim Ferraioli, Head of Cryptocurrency Research at Schwab Financial Research Center, stated, "The active investor cost basis, which shows the average price of Bitcoin traded in the secondary market, is $78,000. This coincides with where last week's rally stopped. Furthermore, the $83,000 range overlaps with the average purchase price of BTC spot ETP investors. At these price levels, selling pressure to recover losses may emerge. Currently, most investors are in a loss-making state, and these sections could act as stronger resistance lines." Simon Jones, co-founder of the decentralized derivatives exchange Reya, commented, "Even in such resistance zones, institutional demand can absorb selling pressure. This is because institutions invest funds for structural reasons, not for short-term holdings. Based on continuous demand, they can adequately absorb profit-taking volumes occurring in these ranges."
