【Analyst: 'The average turnover cost price for holding BTC for less than 3 months' has once again become a support level during Bitcoin's correction】 According to Golden Finance, on-chain data analyst Murphy stated that the market reacted in advance to concerns about Powell's speech yesterday, pulling back to $112,000 before the speech. This price level happens to be the average turnover cost for 'BTC held for less than 3 months'. Murphy added that BTC held for less than 3 months constitutes a significant and active portion of short-term chips, and the sentiment of these new investors is the easiest to sway. When prices drop below the cost line, unrealized gains turn into unrealized losses, causing considerable psychological pressure and shifting market sentiment from optimistic to pessimistic. This cost line is precisely $112,000; the support comes from the fact that when these short-term investors approach breakeven, they are unwilling to sell more of their chips, which overall reduces selling pressure. At least they have not completely lost confidence in the future, so their emotional judgment should be anxiety rather than panic.
