Bitcoin is currently trading below the $74,500 cost basis established by holders during the last market cycle. A significant rally above this level could lead to many investors regaining profits, potentially lessening sell pressure. Historically, when Bitcoin has surpassed key resistance levels, it has resulted in reduced distribution among cost-basis holders, encouraging accumulation, and stabilizing prices. Additionally, long-term holders typically avoid selling while facing unrealized losses, which may support the current price stabilization efforts.
Bitcoin trades below $74.5K cost basis, eyes bullish reversal
