Analysis: Bitcoin ETF Holder Cost Averaging at Around $74.2K, Current Market Structure Yet to Be Optimized

BlockBeats News, April 15th, Cryptocurrency quantitative analyst @AxelAdlerJr stated that Bitcoin recently touched the average entry cost of the US Bitcoin ETF holders at $74,200. If Bitcoin can continue to hold above this level, the ETF holders will transition from a loss to a breakeven point (neutral); if it falls below, it indicates that the market structure is still weak, and the pressure continues. On the other hand, the Short-Term Holders (STH) have a cost basis of around $83,734, which is the main resistance level in the current market.

The analyst believes that only when the Bitcoin ETF holders' cost narrows further towards the STH cost basis gap can the Bitcoin market structure see more significant improvement.