Bitcoin price threatens $77.7K support loss with recent buyers underwater

Bitcoin (BTC) risks turning $77,700 into new resistance as recent buyers fall into an aggregate loss, analysis warns.

Bitcoin fell below $77,700, the cost basis of buyers from one to three months ago, which could now become new resistance.

Profitability data emphasizes a support zone at $68,400, equivalent to a 12% net loss for those buyers.

Bitcoin short-term holders face slipping into a net loss, with their cost basis at $75,832.

Bitcoin’s $77,700 cost basis could become resistance

Data from onchain analytics platform CryptoQuant shows that BTC/USD is now trading below the realized price, or cost basis, of investors who entered the market between one and three months ago.