Analyst: BTC, ETH must break key resistance to shift market structure

The average cost basis for Bitcoin and Ethereum accumulation addresses stands at $72,400 and $2,500, respectively, and these levels could act as key resistance, according to a CryptoQuant contribution from crypto analyst Burak Kesmeci. He noted that both BTC and ETH are currently trading below these prices. Kesmeci described the current phase as a "Cold water" area, where even long-term accumulation addresses are experiencing losses. While he could not confirm if this is the market bottom, he suggested that a move by BTC and ETH above their respective average accumulation prices could lead to a shift in the market structure.