Analysis: Bitcoin is currently approaching the cost basis of two major holder groups, and investors with a holding period of 6 months to 2 years may face a test of sentiment.

BlockBeats news, October 2 — CryptoQuant analyst Darkfost posted that Bitcoin is currently approaching the average cost basis range of two major holder groups: investors with a holding period of 18 months to 2 years have an average cost basis of about $88,350, while investors with a holding period of 6 to 12 months have an average cost basis of about $89,200.

Darkfost pointed out that cost basis is not inherently a support or resistance level, but rather the average holding cost of a group. As price approaches this range, the behavior of the relevant investors may change, so this area should be viewed as a potential risk zone.

Among them, the group of investors holding for 6 to 12 months has been at an overall loss for nearly a year, and some investors may have bought at the market high. Next, some investors may choose to sell while waiting to break even, while others may continue buying to lower their holding cost. Darkfost believes that both types of behavior could affect Bitcoin's current upward momentum.