The recent pullback of Bitcoin has been quite severe, breaking through several key on-chain cost lines consecutively.

First, the cost basis of short-term holders of $90,900 failed to hold, and then the average cost of active investors of $88,100 also broke. Now the market's focus is on the $81,700 position— the real market average, which may be the last decent support in the short term.

If this place falls too? Then the next significant support to look at is the realized price of $56,400, but that belongs to the long-term bottom area. I hope it doesn't come to that.

From on-chain data, the current position is indeed quite delicate. Bulls need to stabilize above $80,000 as soon as possible, otherwise market sentiment may further deteriorate.

BTC-0.16%

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RektRecovery

· 15h ago

nah this is exactly what i called last week... predictable vulnerability in the support architecture. 8.17k was always theater tbh, we're heading lower and everyone knows it

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HallucinationGrower

· 15h ago

The 80,000 mark really makes me anxious if it doesn't hold --- Another support has been broken, this pace is a bit fast --- 56,400 is absolutely not a place to go, just thinking about it is uncomfortable --- On-chain data says it all, longs need to be strong --- Consecutive breakouts are indeed scary, when will it rebound --- Is this line of defense at 81,700 really that crucial --- If it really falls to over 50,000, that would be ridiculous, let's not --- Short-term longs feel like they're going to be wiped out, this wave is too brutal

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NFTBlackHole

· 15h ago

Oh no, it has fallen through again, this time it feels serious. Can 80,000 really not be held? It feels like the market has been a bit intense lately. If it breaks 56,400, I will really have to close all positions, I can't stand it. At this rate, the long positions are going to start panicking, right? By the way, will this pullback wash out to the bottom directly?

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GasGoblin

· 15h ago

If 81,700 can't be held, it will really be awkward.

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MerkleTreeHugger

· 16h ago

Can't hold 80,000? Come on, this time it's really precarious --- After such a sharp fall, it feels like we are about to test the bottom --- If 81,700 breaks, it will be quite scary... --- Are we going to fall to over 50,000 again? Oh my God, help --- Long positions need to fight hard now, otherwise this wave will be wasted --- Wow, this pullback is indeed fierce, who can withstand it --- Key levels are breaking one after another, this rhythm is a bit oppressive --- Waiting to see if 80,000 can rebound, otherwise we are really entering a bear market --- With on-chain data looking so bearish, no wonder the sentiment is so poor --- Hope it doesn't really fall to over 50,000, that would be ridiculous

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