CryptoQuant: Bitcoin is approaching the average investor cost price of $81,500, and a drop below this level may trigger selling pressure and further decline

According to CryptoQuant analyst MorenoDV_, Bitcoin's current price is close to the average cost basis for investors (around $81,500), which is an important psychological level. When the price is above this level, investors are generally more willing to hold; once it falls below, this position may turn into a selling pressure zone.

At the same time, the market sentiment indicator AVIV ratio shows that Bitcoin is currently in a consolidation phase, with low volatility, and investors are adjusting their positions. If the price can stabilize above $81,500, and the AVIV ratio (the ratio of active market valuation to realized valuation) remains stable, it indicates that market confidence is still present, and the trend is likely to continue; however, if it falls below this level, confidence may weaken, and the price could further decline.