Bitcoin falls below $77,700, short-term holders at risk of net loss

Bitcoin (BTC) has dipped below a key cost basis of $77,700, raising the possibility that this level could become new resistance for recent investors, according to data from onchain analytics firm CryptoQuant. The realized price, or average cost basis, for BTC bought between one and three months ago is now higher than the current market price, with Bitcoin currently trading near $76,500. This group of investors, considered by analysts to be speculative traders, have traditionally served as a volatile force in the market, often reacting quickly to price swings.

Source: CoinTurk News