CryptoQuant CEO: The cost basis of BTC in ETFs or custodial wallets is $89,000

ChainCatcher news, according to data released by Ki Young Ju, the founder and CEO of CryptoQuant, the current cost basis of Bitcoin holdings among different groups is as follows:

• The cost basis for ETFs and custodial wallets is $89,000,
• The cost basis for Binance traders is $59,000,
• The cost basis for mining companies is $57,000,
• The cost basis for early whales is $25,000.

When the price of Bitcoin falls below the cost basis of mining companies (as seen in May 2022, March 2020, and November 2018), it usually marks the onset of a bear market.