An analyst of the CryptoQuant platform, acting under the pseudonym ShayanMarkets, identified key resistance levels for the first cryptocurrency at around $ 67,000 and $72,000. These price zones are based on the metric of the realized price of short-term asset holders, namely investors holding bitcoin for one to three and three to six months. At the time of publication, bitcoin is trading around $65,200, having gained 4% over the past seven days. The expert emphasizes that since the current price is below these levels, both groups of holders are currently recording a cumulative unrealized loss on their positions. This creates an underlying overhead structure that will put pressure on the price when trying to rise, as many investors seek to break even when these historical entry points are reached.

To confirm this thesis, a researcher under the pseudonym Darkfost provided data from the SOPR (Spent Output Profit Ratio) indicator. The thirty-day moving average SOPR for short-term bitcoin holders has reached 0.997, indicating that the average cost of selling coins has reached the break-even level as close as possible. The analyst notes that overcoming the resistance levels of $67,000 and $72,000 will be an important technical signal. Such a breakdown will mean the complete absorption of selling pressure and confirm the market's readiness for further sustainable recovery. Otherwise, the activity of holders seeking to close unprofitable positions may provoke new local corrections.

The historical context also indicates the importance of the current moment. According to Darkfost, a similar market configuration was observed in January and May of this year, when the market needed to overcome similar psychological and technical barriers. The expert emphasizes that for a healthy trend development, it is extremely important to have moderate profits that are attractive enough to hold assets or attract new investors, but not excessive in order to avoid massive profit-taking. This situation is unfolding against the background of recent data from Glassnode analysts, who in August recorded a record-long phase of capitulation in the bitcoin market. Price stabilization and successful testing of the upper resistance levels can be the final confirmation of the completion of this bearish stage and the beginning of a new accumulation phase.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.