Bitcoin price threatens $77.7K support loss with recent buyers underwater

Bitcoin fell below the realized price of the one-to-three-month-old buyer cohort in a move that risked flipping it to new resistance. Bitcoin (BTC) risks turning $77,700 into new resistance as recent buyers fall into an aggregate loss, analysis warns. Data from onchain analytics platform CryptoQuant shows that BTC/USD is now trading below the realized price, or cost basis, of investors who entered the market between one and three months ago. It defines this investor cohort as speculative traders who are thus more sensitive to short-term price volatility. Their cost basis historically formed upward-trending support during Bitcoin bull markets.