Market Analysis from Darkforth
Darkforth, an analyst affiliated with the cryptocurrency analytics firm CryptoQuant, has provided his perspective on the current state of the Bitcoin market.
According to Darkforth's analysis, the most crucial price points for Bitcoin in the short to medium term are identified as $81,700, which acts as a robust support level, and $101,000, representing a significant resistance area.
Understanding Key Price Levels
The analyst highlighted that Bitcoin's immediate challenge involves surpassing the resistance level of approximately $101,000. This figure represents the average cost basis for Bitcoins that have been held for a duration of 6 to 12 months. Darkforth emphasized that this level poses strong resistance, both from a psychological standpoint and technically, as it aligns with the acquisition costs for early long-term investors.
Conversely, Darkforth pointed out that the average cost for investors who have held Bitcoin for 12 to 18 months is around $81,700. He stressed that this price point serves as a critical support zone for the market. The analyst suggested that should Bitcoin experience a pullback to this region, these investors would likely opt to maintain their holdings rather than sell, prioritizing the protection of their initial investment costs.
Investor Behavior and Future Scenarios
The analyst also observed that a substantial number of investors who acquired Bitcoin at prices close to the peak observed in January 2025 continue to hold their positions. In a scenario where prices trend upwards, Darkforth indicated that the $114,650 level emerges as an additional resistance point. He noted that this level corresponds to the average cost basis for short-term investors with investment horizons of 3 to 6 months.
Darkforth reminded that this particular group of investors largely established their positions around the market's peak. Consequently, he suggested that if prices were to ascend back to this range, some investors might consider selling their holdings to recover their initial investment at the break-even point.