Analyst: Bitcoin Trapped in Cost-Basis Standoff, $71,300 Support, $79,800 Resistance

Odaily reports: Analyst Darkfost posted on X platform that Bitcoin has become trapped in a cost-basis standoff zone between $71,300 and $79,800. A similar situation occurred at the end of the 2023 bear market, when BTC was also rejected twice before breaking through the relevant cost-basis zone, suggesting the market may react in the near term. Darkfost noted that Bitcoin is still trading above the $71,300 "active supply cost basis," which represents the average cost of BTC in actual market circulation and could serve as important support. On the other hand, Bitcoin faces resistance at the $79,800 "invested capital cost basis," a level where BTC has been rejected multiple times before, likely because some loss-making positions chose to exit as they approached breakeven.