Bitcoin Tests $80,000 Supply Wall Near ETF Cost Basis

Bitcoin is approaching a major concentration of investor supply around $80,000, where holders who bought near that level may be inclined to sell as they return to break-even. The threshold is also close to the average acquisition price of spot Bitcoin ETF holders, making it an important test of institutional conviction and the durability of the cryptocurrency’s recovery.

Bitcoin was testing the roughly $80,000 area in the latest report, described as its largest overhead supply wall. Traders are also watching price action around the key 50-week moving average for evidence of support. A sustained hold and absorption of selling near $80,000 could reinforce recovery momentum, while a rejection or loss of the long-term average would increase the risk of another move toward lower support levels.