Bitcoin Falls Below $77,700 Cost Basis for Recent Holders

Bitcoin (BTC) traded below the estimated $77,700 average cost of coins last moved one to three months ago Tuesday, leaving that cohort at an unrealized loss on average. BTC was $76,936 as of 5:14 a.m. ET (10:14 UTC), down 1.27% over 24 hours. Bitcoin had remained above the cohort’s cost basis since Aug. 19 before falling below it. The estimated cost basis continued to rise during the price decline. The measure uses the prices at which coins last moved onchain to estimate the group’s average cost. It does not mean every holder in the group paid $77,700.