Analyst: The key support level for Bitcoin is at $81,700, with resistance around $101,000

CryptoQuant analyst Darkfost stated that Bitcoin's next major challenge is to reclaim the cost basis of the first batch of long-term holders (holding for 6 to 12 months), which is currently around $101,000. The cost basis for long-term holders who have held for 12 to 18 months is approximately $81,700, which constitutes an important support zone. If Bitcoin falls back to this area, these holders are likely to defend their average purchase price.

Investors who bought close to the January 2025 peak are still holding their positions. On the upside, there is a resistance level around $114,650, corresponding to the cost basis of short-term holders (holding for 3 to 6 months). This group significantly built their positions near the peak, and if the price returns to this range, some investors may choose to sell near the breakeven point.