Bitcoin Profitability Nears 2022 Lows as BTC Price Slumps Below $82K: Analyst
AI summary
Bitcoin has fallen below $82,000, pushing profitability toward levels last seen in 2022, according to an analyst. New whales hold an average cost basis of $77,120, leaving BTC just 6.3% above their entry at the $82,000 reference price. A thin cushion over large holders' cost basis raises the risk of capitulation selling if the decline continues, which is why traders are watching this level closely.
