Bitcoin News Today: Bitcoin Average Buy Price Falls Below $119400 as ETF Inflows Top $150B Eyes $120K Threshold

Bitcoin's average purchase price has dipped below $119,400, positioning the cryptocurrency at a critical juncture as it approaches the $120,000 psychological resistance level. This development highlights a delicate balance between buyer confidence and lingering bearish pressure. On-chain data reveals that the average acquisition cost for Bitcoin holders remains below the current price, suggesting that most active buyers have entered the market at or near $119,400. This metric has historically acted as a support mechanism, reinforcing Bitcoin’s value during consolidation phases.

The average purchase price varies significantly across holding periods, offering a nuanced view of market sentiment. Holders who acquired Bitcoin within the past 24 hours have an average cost of $119,193, reflecting recent volatility. Investors with positions held between one day and one week have an average cost of $117,762, indicating gradual accumulation at lower prices. Those holding for one week to one month average $115,252, underscoring the asset’s appeal for medium-term strategies. Collectively, these figures confirm that the majority of active holders are either at break-even or enjoying modest gains, reducing immediate selling pressure.

The proximity to $120,000 presents a pivotal test for Bitcoin’s momentum. A successful breakout could trigger technical buying and short-covering activity, attracting traders aligned with bullish trends. Conversely, a failure to maintain above $119,000 risks a pullback toward $115,000, a level historically tied to the average entry point of one-month holders. Market participants are closely monitoring exchange outflows and wallet activity to gauge whether the $120,000 threshold will hold as resistance or evolve into support.

Broader market dynamics add to the uncertainty. Institutional investment remains a key factor, with Bitcoin ETFs amassing 1.29 million BTC since January 2024, driven by inflows exceeding $150 billion [1]. This surge reflects growing institutional confidence in the asset class, particularly as macroeconomic catalysts—including inflation trends and central bank policies—remain under scrutiny. However, the average holder cost provides a transparent framework for assessing risk-reward scenarios, as it encapsulates collective buying behavior without relying on speculative forecasts.

Analysts emphasize that while the average purchase price offers directional insight, it does not fully capture market depth or individual investor strategies. The convergence of ETF inflows, retail demand, and on-chain metrics will ultimately determine whether Bitcoin can break through $120,000. For now, the market remains in a holding pattern, with investors awaiting decisive price action or external catalysts to define the next phase of the trend.

Source: [1] [Bitcoin ETFs Now Hold 1.29M BTC As Inflows Top $150B](https://blockchainreporter.net/bitcoin-etfs-now-hold-1-29m-btc-as-inflows-top-150b-since-january-2024/)