BTC 2023 investor cost basis emerges as key support at $63.7K

The on-chain average purchase price, or realized price, for Bitcoin investors from 2023 is serving as a strong support level, CoinDesk reported. According to the report, this cohort's realized price is approximately $63,700, a level that acted as a floor when BTC dropped to $60,000 in early February. This behavior is similar to previous cycles. At the beginning of the 2023 bull run, Bitcoin experienced several distinct corrections, and the average realized price repeatedly acted as a support level during those periods. For Bitcoin's entire history, the all-time investor realized price is approximately $54,360. Consequently, if BTC breaks below the $60,000 mark, the area around $54,000 could become the next major support zone, the analysis concluded.