Analysis: Bitcoin is currently approaching the cost bases of two major holding cohorts, and investors with 6-month to 2-year holding periods may face emotional tests.

CryptoQuant analyst Darkfost published a note stating that Bitcoin is currently approaching the average cost price ranges of two major investor groups: investors who have held their BTC for 18 months to 2 years have an average cost of around $88,350, while those who have held for 6 to 12 months have an average cost of approximately $89,200. Darkfost noted that cost prices are not inherently support or resistance levels, but rather the average holding cost of a group. As prices approach this range, the behavior of relevant investors may shift, so this area should be viewed more as a potential risk zone. Notably, the group of investors who have held for 6 to 12 months have been in a loss for nearly a year, with some having bought in at market peaks. Going forward, some investors may sell to break even, while others may continue buying to lower their average holding cost. Darkfost believes both of these actions could impact Bitcoin’s current upward momentum.