Bitcoin News Today: Bitcoin Average Buy Price Below $119,400 as Long-Term Holders See 3.6% Gains

Bitcoin holders’ average buy price remains below the $119,400 threshold, a metric that underscores the cryptocurrency’s resilience amid mixed market conditions. On-chain data reveals that the weighted average purchase price for BTC holders has not breached this key level, despite recent price fluctuations. This includes buyers across varying timeframes: 0–1 day ($119,193, +0.2%), 1 day–1 week ($117,762, +1.4%), and 1 week–1 month ($115,252, +3.6%) [1]. The relatively small price differentials between newer and older holders suggest limited speculative pressure and a stable accumulation pattern [1].

The persistence of the average buy price beneath $119,400 indicates that a significant portion of Bitcoin’s addressable supply remains in profit territory. This dynamic has historically delayed mass selling activity, as holders are not yet facing immediate liquidation risks [1]. Analysts note that the alignment of the average buy price with the spot price has often acted as a catalyst for increased selling pressure, but the current divergence implies that investors—both institutional and retail—remain incentivized to hold rather than exit positions [1].

The market’s behavior contrasts with broader cryptocurrency trends, as Bitcoin’s on-chain metrics highlight a different risk profile compared to altcoins like Ethereum or Pi Network (PI). For instance, while PI has seen a 6.85% rise to $0.4819 amid a speculative rally, its market cap ($3.7 billion) pales in comparison to Bitcoin’s $1.1 trillion valuation [1]. This divergence reinforces Bitcoin’s role as the primary benchmark for crypto sentiment, with its average buy price serving as a barometer for long-term confidence.

Steady accumulation patterns also suggest that the market is in a consolidation phase. The incremental increases in average buy prices across holding periods reflect consistent buying pressure rather than abrupt speculative swings. This is a bullish sign, as it indicates investors are entering the market at gradually higher levels without triggering extreme volatility [1]. The Fear and Greed Index, currently at 67, further supports this narrative, signaling a shift toward optimism despite macroeconomic uncertainties, including the Federal Reserve’s policy outlook [1].

However, analysts caution that the average buy price does not account for unrealized profits in dormant wallets. Should Bitcoin’s price fall below key support levels—such as $118,000—holders with cost bases near the current average could be triggered to sell, potentially accelerating downward momentum [1]. Conversely, prolonged consolidation near $119,400 may encourage new buyers to enter, particularly if the spot price continues to outpace the average cost basis.

The interplay between Bitcoin’s price and its holders’ cost structure remains a critical focal point for market participants. While technical indicators and macroeconomic factors will shape BTC’s trajectory, the on-chain data provides a valuable lens for assessing sentiment and potential inflection points. As of now, the data suggests a market in balance, with long-term investors holding firm and short-term buyers adding at modest premiums.

Sources:

[1] [Can PI Defy the Odds and Hit the $1 Mark?](https://cryptorank.io/news/feed/e9fbb-can-pi-defy-the-odds-and-hit-the-1-mark)

[2] [BTC Holders’ Average Buy Price Still Under $119.4K](https://coinmarketcap.com/community/articles/68872efe361abe5ce4db1f59/)