Analysis Company Says “Bitcoin’s Decline Isn’t Over,” Predicts the Lowest Level That Could Be Seen!

Bitcoin ($BTC) has climbed above $72,000 in the last few hours, and on-chain analytics firm CryptoQuant has analyzed the current state of $BTC.

CryptoQuant stated that Bitcoin has been trading around $70,000 in recent days, and that the cost price for short-term investors (STH) is currently above the spot price.

At this point, approximately 8% of the 5.7 million $BTC held by STHs are profitable, while 92% are at a loss.

Analysts argued that a further recovery in Bitcoin price could signal potential selling pressure from STH (Source Threat) sources.

“…These investors hold approximately 5.7 million $BTC, and only 8% of them are currently in a profitable position. This situation could lead to increased selling pressure with every price recovery.”

The analytics firm also noted that Strategy, the largest institutional Bitcoin bull, was also at a loss, arguing that the losses were not limited to STHs.

Strategy stated that it holds 762,000 $BTC and that its average cost is around $75,600, consistent with recent resistance levels.

“Strategy’s realized price (762K $BTC) is at the level of $75,600.”

The market is reacting precisely to this level from where the recent rally was rejected.”

Analysts noted that the average cost price for Bitcoin is approximately $54,000, adding that historically, this price indicates a bottom.

“Meanwhile, the average cost basis (Actual Price) is approximately $54,000.”

In past bear markets:

The price usually returns to this level or remains below it.”

*This is not investment advice.