Bitcoin Falls Below $77,700 Cost Basis for Recent Holders

Bitcoin (BTC) traded below the estimated $77,700 average cost of coins last moved one to three months ago Tuesday, leaving that cohort at an unrealized loss on average.

BTC was $76,936 as of 5:14 a.m. ET (10:14 UTC), down 1.27% over 24 hours. Bitcoin had remained above the cohort’s cost basis since Aug. 19 before falling below it. The estimated cost basis continued to rise during the price decline.

The measure uses the prices at which coins last moved onchain to estimate the group’s average cost. It does not mean every holder in the group paid $77,700. An unrealized loss remains on paper unless the coins are sold.

A lower band in the same measure stood at $68,400, a level associated with a 12% aggregate loss for the one-to-three-month cohort.

The broader short-term holder group, which covers coins held without selling for up to 155 days, had an estimated average cost of $75,832 Tuesday. BTC remained above that level at the 5:14 a.m. ET price snapshot. The two cost bases describe different groups of holders.

The readings add to Monday’s coverage of realized losses near $76,000. Realized losses reflect coins sold at a loss; the cost-basis readings estimate where holders stand before a sale.