Bitcoin bear market may end if bulls reclaim $74.5K: Technical rationale
#Market Analysis
Bitcoin trades below the average cost basis for most holders. A rally above $74,500 could invalidate the current downtrend. We need to see if buyers can sustain this level.
Written by Biraajmaan Tamuly , Staff Writer Reviewed by Ray Salmond , Staff Editor Bitcoin bear market may end if bulls reclaim $74. 5K: Hereβs why 2 hours ago Bitcoin trades below most holdersβ cost basis, but a rally above $74,500 could change everything. Can the bulls pull it off? Listen 0:00 Market Analysis Cointelegraph in your social feed Follow our Subscribe on Bitcoin ( BTC ) has rebounded 7. 45% over the past two days after dropping to $62,400 on Tuesday, below a key onchain price support. Despite the bounce, holders who bought between six months and two years ago remain at an average cost of $74,500, a level that now stands as a potential inflection level. As BTC moves higher, the concentration of supply around $74,500 stands as a key test for the current trend; a decisive reclaim of that level may signal demand and a shift in short-term market structure. Why $74,500 matters to Bitcoin bulls Bitcoinβs realized price tracks the average onchain acquisition cost for a given UTXO age band.
