Bitcoin's resistance band indicates a critical turning point for investors

According to the latest analysis by CryptoQuant analyst Darkfost, Bitcoin’s price movement is dominated by a resistance band formed by the average acquisition prices of multiple holder groups. Currently trading around $68,520, Bitcoin faces several psychological resistance zones that could significantly influence future price action.

Support Zones Formed by Multiple Holding Periods

The cost basis for the long-term holder group with a holding period of 6 to 12 months is approximately $101,000, which represents the next major challenge for Bitcoin. Meanwhile, the group holding for 12 to 18 months has a cost basis of about $81,700, serving as a strong support zone. If Bitcoin drops to this level, it is highly likely that these investors will support the price to maintain their average acquisition prices.

Investors who bought near the high in January 2025 are still holding their positions and are likely waiting for a recovery while feeling psychological pressure.

Resistance Band at $114,650 and Selling Pressure

On the upside, a strong resistance level has formed around $114,650. This corresponds to the cost basis of the short-term holder group with a holding period of 3 to 6 months. When the price approaches this resistance band, profit-taking selling may increase. Since this group tends to build positions at high levels, active selling decisions near break-even points are expected.

Current Price Level and Future Market Scenarios

The current Bitcoin price of $68,520 is situated between the above resistance band and multiple support zones, creating a situation where market participants’ expectations are highly conflicted. In such a layered resistance environment, shifts in investor sentiment will become an even more critical signal.