- Bitcoin Price rose above $90,000, up 15% from the November 21 low near $80,000.
- The price found strong support near key cost basis levels: the 2024 yearly volume-weighted cost basis, True Market Mean, and the average U.S. spot ETF cost basis.
- The True Market Mean reflects the average purchase price of actively traded Bitcoin and served as a crucial support near $81,000.
- The U.S. spot ETF cost basis, currently around $83,844, indicates investor acquisition prices in U.S.-listed bitcoin ETFs and acted as support during recent corrections.
- The 2024 yearly cost basis, near $83,000, marks the average price of coins withdrawn from exchanges this year and aligns with overall market support.
Bitcoin has recently climbed back above $90,000, marking a 15% gain from its November 21 bottom of about $80,000. The price rise coincides with support levels across three major cost basis indicators. These indicators highlight where investors commonly defend their positions during price declines.
First, the True Market Mean measures the average onchain purchase price of bitcoin held by market participants who have recently moved coins. By excluding long-held dormant coins, it captures the cost basis of active traders. This value, located near $81,000 during the recent pullback, provided clear support. Bitcoin first surpassed this level in October 2023 and has remained above since, establishing it as a significant bull market threshold.
Second, the average cost basis for U.S. spot exchange-traded funds (ETFs) currently stands at approximately $83,844. This figure is calculated by Glassnode, weighing daily ETF inflows against bitcoin market prices. The price has rebounded from this support level, which also held during the April selloff linked to tariff tensions.
The third metric is the 2024 yearly volume-weighted cost basis, representing the average price at which bitcoins acquired in 2024 were withdrawn from exchanges. Data from checkonchain places this figure close to $83,000. Historically, yearly cohort cost bases like this have acted as support during bull market phases. This level also showed resilience during previous corrections in April.
Together, these three cost basis metrics underline the robust demand and price support in the $80,000 region, reinforcing this area as a key foundation for bitcoin’s recent price recovery. More detailed data and context can be viewed at checkonchain.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Tom Lee’s Bullish BTC Forecast Fuels XRP Price Hopes
- Solana ETFs See 7-Day Inflow Streak Despite Price Drop
- Financial Analyst Warns: Avoid Buying Shiba Inu Crypto Now
- Brazil’s Itaú Recommends 1%-3% Bitcoin Allocation for Investors
- BRICS Central Bankers Predict US Dollar Decline in Global Reserves by 2030
