Bitcoin Approaches Cost Price of Two Major Holding Groups, Investor Sentiment Under Test

Bitcoin is currently nearing the average cost price range of two major holding groups: investors who have held for 18 months to 2 years have an average cost price of about $88,350, while those who have held for 6 to 12 months have an average cost price of about $89,200. The cost price is not a support or resistance level, but rather the average holding cost of the group. As the price approaches this range, investor behavior may change, which should be regarded as a potential risk area. The group of investors holding for 6 to 12 months has overall been at a loss for nearly a year, with some investors possibly having bought in at market peaks. Moving forward, some investors may choose to sell in hopes of recouping their losses, while others may continue to buy to lower their holding costs. These two types of behavior could impact the current upward momentum of Bitcoin.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.