The Bitcoin price remains a focal point for investors as it stabilizes near $95,000, a threshold analysts argue could determine its short-term trajectory. CryptoQuant CEO Ki Young Ju’s latest analysis of Bitcoin’s cost basis across investor cohorts has ignited debates about potential bearish signals or long-term resilience.
Ki Young Ju’s February 19 tweet highlighted critical acquisition averages:
This reveals institutional investors are closest to break-even, while mining firms face heightened pressure. A drop below $57K could signal a bear market, as seen in 2018 and 2020. Meanwhile, MicroStrategy CEO Michael Saylor, a vocal Bitcoin advocate, doubled down on corporate adoption this week, stating,
“Bitcoin’s scarcity and institutional demand will redefine global treasury strategies.”
Adding to the bullish narrative is MicroStrategy’s CEO and long-time Bitcoin advocate Michael Saylor’s announcement that reveals a plan to raise $2 billion to buy more BTC.
Saylor’s Bitcoin acquisition spree is a barometer to gauge corporate confidence in BTC & cryptocurrencies. His recent announcement reinforced the narrative of Bitcoin as a hedge against inflation and a cornerstone of modern financial strategy, and it further adds credence to a Strategic Bitcoin Reserve implementation.
With Bitcoin price crashing below $95K and catalyzing a liquidation of $340M in 24 hours, the market seems to be flushed. Let’s look at key levels to watch from a short-term and long-term scenario.
Deviation Below VAL of $93.3K:
Long Squeeze Target:
New All-Time High (ATH):
Cycle Top Based on Mars-Vesta Cycle:
Worst-case/MaxPain Scenario:
Investors need to note that some of these levels coincide with the cost basis levels mentioned by the CEO of CryptoQuant, making them a key level to watch as Bitcoin price volatility increases.
While Bitcoin’s $95K cost basis tests investor resolve, long-term fundamentals remain strong. As Ki Young Ju notes, “Old whales at $25K show unshakable confidence,” while Michael Saylor’s MicroStrategy continues accumulating BTC despite volatility. For traders, the $57K–$95K range is critical; for hodlers, the 2025 halving cycle and institutional tailwinds suggest upward momentum.
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