Bitcoin Holders Realize $1.115 Billion in Losses as $76,000 Support Is Tested

Bitcoin (BTC) holders realized $1.115 billion in losses over 24 hours as short-term holders moved 36,600 BTC to exchanges below their cost basis, putting $76,000 support in focus.

Bitcoin fell to $76,400. Crypto analyst Doctor Profit identified $76,000 as key support, linking the level to the breakout that began Bitcoin’s bull-market structure, nearby weekly support and the 50-week moving average. Recent buyers’ and short-term holders’ cost bases also cluster near that price. Bitcoin’s $74,600 short-term-holder realized price has also been highlighted as a market risk level.

Doctor Profit said two or three daily closes below $76,000 would confirm that support had failed. He placed the next price range at $67,000 to $69,000 in that scenario.

For a recovery, he is watching the $80,000-$81,000 area, followed by $82,000. He views a move above $82,000 as a sign that Bitcoin’s bullish structure has returned. Bitcoin’s daily relative strength index stood at 34.7, its lowest reading since June 30, when BTC reached $57,000. The Coinbase Premium was 0.27%, its lowest level since November 2022.

Doctor Profit said his long positions, with an average entry of $80,400, remain open. He also holds spot Bitcoin that he began accumulating at $60,000.