Aug 6, 2025
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Bitcoin Investors Holding Strong Amidst Recent Price Pullback
On-chain data indicates that Bitcoin investors who bought near the price peak are holding their positions despite recent market declines.
Key Insights from Bitcoin Cost Basis Distribution
- Glassnode's analysis shows a Cost Basis Distribution Heatmap revealing supply concentration above $118,000.
- Investor behavior suggests those in profit may view price drops towards their cost basis as buying opportunities.
- The heatmap displays an "airgap" formed during BTC's rapid rise to a new all-time high, indicating a lack of established support or resistance levels.
- Current supply is concentrated between $116,000 and $120,000, with thin supply below $109,000.
- Despite some panic selling, many investors who purchased around $118,000 to $120,000 are opting to hold.
As of now, Bitcoin is priced at approximately $114,200, reflecting a 4% decrease over the past week.
