CryptoQuant analyst says BTC is approaching 88400 to 89200 USD-month mid-term holder cost zone
BIBIBI
AT A GLANCE
The analyst said Bitcoin is approaching the convergence zone of the average costs of two mid-term holder groups, and holder reactions may affect the upward momentum.
PANews October 2 reported that CryptoQuant analyst Darkfost said Bitcoin is testing two holder groups: 18 months to 2 years' holders have a cost basis of approximately 88,350 USD，6 to 12 months' holders have a cost basis of approximately 89,200 USD, and Bitcoin is entering this convergence zone, where the investors concerned may react emotionally. Darkfost emphasized that the cost basis is not a support or resistance line, but an average used only to identify a risk area. He said that the 6 to 12-month cohort has been collectively at a loss for nearly 1 years, and some may have bought at the market top. This test will shake out the impatient, while others may continue buying to lower their cost basis and return to profitability. As Bitcoin approaches these levels, the above behavior could interrupt the upward momentum it had previously built.
CryptoQuant analyst Darkfost said the cost basis of Bitcoin holders from 18 months to 2 years is approximately 88,350 USD。
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Darkfost said the cost basis of Bitcoin holders from 6 to 12 months is approximately 89,200 USD。
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Darkfost said Bitcoin is entering the convergence zone of the two cost bases mentioned above.
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Darkfost emphasized that the cost basis is an average, not a support or resistance line, and is used only to identify a risk area.
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Darkfost said the 6 to 12-month holder cohort has been collectively at a loss for nearly 1 years, and some may have bought at the market top.
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Darkfost believes that some holders may exit, while others may continue buying to lower their cost basis.
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Darkfost believes that the behavior of the holders concerned could interrupt Bitcoin's previously built upward momentum.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The cost basis can be understood as the average price at which a holder group bought Bitcoin. The analyst is focusing on the areas near 88,350 USD and 89,200 USD because the average costs of the two holder groups are concentrated there. When the price approaches the average purchase price, some investors may choose to sell, while others may continue buying to lower their average cost. However, the original text explicitly states that these figures are not definite support or resistance levels.
Why it matters to readers
If the holders concerned act in concert in this price area, Bitcoin's previously built upward momentum could be affected. However, this is only the analyst's assessment of a risk area and potential behavior; it does not mean that the price will necessarily reverse.
Beginners can view this range as an area where the market reaction should be observed, rather than as a definite buy or sell signal. The average cost of a holder group alone cannot confirm whether the price will rise or fall next.
Risks and unknowns
The source provides no on-chain data or calculation methodology, so the cost bases of the two types of holders cannot be independently verified.
It is not yet possible to confirm whether the relevant holders will sell in concentrated fashion, continue buying, or make other choices.
Whether the upward momentum will be interrupted remains an analyst opinion; the source provides no results that have already occurred.
Related Developments
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The source does not explain the specific data basis for “overall losses of nearly 1 years” and “some people may have bought at the market top.”
The original text only says “October 2”; the year of the news is not specified.
Related concepts
Cost basis
This term is not in the glossary yet. Browse related concepts in the glossary.
