PANews reported on August 29th that according to CoinDesk, Bitcoin has continued to pull back after reaching a record high of over $124,500, now fluctuating around $110,000. Glassnode's weekly report indicates that as investors' cost base has come under pressure over the past six months, pressure from top buyers has intensified; short-term holders are tending to take profits at break-even points, increasing resistance to rebounds. Technically, Bitcoin has fallen below the one-month realized price line ($115,300) and the three-month realized price line ($113,700), but the six-month moving average ($107,440) provides strong support. This indicator reflects investors' average holding cost, and a price below this level indicates that most holdings are losing money. CoinDesk research adds that the cost-to-investment level for short-term holders is above $108,500, where Bitcoin rebounded on August 26. The average cost-to-investment level for investors entering the market in 2025 has fallen to just above $100,000, a break below which could trigger a sell-off. This pullback suggests that recent pressure on capital inflows has intensified, and the anchoring effect of realized prices on market sentiment has become increasingly pronounced.PANews reported on August 29th that according to CoinDesk, Bitcoin has continued to pull back after reaching a record high of over $124,500, now fluctuating around $110,000. Glassnode's weekly report indicates that as investors' cost base has come under pressure over the past six months, pressure from top buyers has intensified; short-term holders are tending to take profits at break-even points, increasing resistance to rebounds. Technically, Bitcoin has fallen below the one-month realized price line ($115,300) and the three-month realized price line ($113,700), but the six-month moving average ($107,440) provides strong support. This indicator reflects investors' average holding cost, and a price below this level indicates that most holdings are losing money. CoinDesk research adds that the cost-to-investment level for short-term holders is above $108,500, where Bitcoin rebounded on August 26. The average cost-to-investment level for investors entering the market in 2025 has fallen to just above $100,000, a break below which could trigger a sell-off. This pullback suggests that recent pressure on capital inflows has intensified, and the anchoring effect of realized prices on market sentiment has become increasingly pronounced.
Analysis: Bitcoin faces increasing pressure below key cost base
PANews reported on August 29th that according to CoinDesk, Bitcoin has continued to pull back after reaching a record high of over $124,500, now fluctuating around $110,000. Glassnode's weekly report indicates that as investors' cost base has come under pressure over the past six months, pressure from top buyers has intensified; short-term holders are tending to take profits at break-even points, increasing resistance to rebounds. Technically, Bitcoin has fallen below the one-month realized price line ($115,300) and the three-month realized price line ($113,700), but the six-month moving average ($107,440) provides strong support. This indicator reflects investors' average holding cost, and a price below this level indicates that most holdings are losing money.
CoinDesk research adds that the cost-to-investment level for short-term holders is above $108,500, where Bitcoin rebounded on August 26. The average cost-to-investment level for investors entering the market in 2025 has fallen to just above $100,000, a break below which could trigger a sell-off. This pullback suggests that recent pressure on capital inflows has intensified, and the anchoring effect of realized prices on market sentiment has become increasingly pronounced.
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