Analysts: Bitcoin Trapped in $71,300–$79,800 Cost Basis Battleground, Market May React Subsequently

TechFlow reported on September 17 that CryptoQuant analyst Darkfost stated Bitcoin remains above the $71,300 "active supply cost basis," which represents the average cost of circulating BTC in the market and may serve as significant support. On the other hand, the $79,800 "contributed capital cost basis" acts as resistance, as BTC has previously faced rejection at this level when some underwater coins chose to exit near breakeven.

Darkfost further noted that a similar scenario occurred at the end of the 2023 bear market, where BTC was also blocked twice prior to breaking through these cost basis zones. Consequently, a trading range between $71,300 and $79,800 is likely forming, and subsequent market reactions are anticipated.