PANews, August 29 - According to CoinDesk, after Bitcoin reached a historic high of over $124,500, it has been in a continuous pullback, now fluctuating around $110,000. Glassnode's weekly report indicates that as the cost basis for investors has been under pressure over the past six months, the pressure from top buyers is increasing; short-term holders tend to take profits at breakeven points, resulting in increased resistance to rebounds. Technically, Bitcoin has fallen below the realized price lines for 1 month ($115,300) and 3 months ($113,700), but the 6-month moving average ($107,440) provides strong support. This indicator reflects the average cost of investor holdings, and a current price below this level means that most holdings are at a loss.
CoinDesk research adds that the cost line for short-term holders is above $108,500, where Bitcoin rebounded on August 26. The average for investors entering in 2025 is