Bitcoin Trades Below $81,000 as Short-Term Holder Gains Fall to 5.5%

Bitcoin (BTC) traded at $80,198 at 7:02 a.m. ET (11:02 UTC) Thursday, below the $81,000 support level.

Below $81,000, the next levels to watch are $77,000 and $67,000. A move above $84,500 could strengthen the bullish setup, with $92,000 and $104,000 as higher reference points. Bitcoin was at $80,139 at 7:06 a.m. ET (11:06 UTC) Thursday, below the $82,000 area highlighted in an earlier Bitcoin support test.

Short-term holders’ average unrealized gains had narrowed to 5.5%, down from about 20% less than a month earlier. Their average cost basis was $76,500, a possible support level.