The price of Bitcoin is currently on the verge of testing the most important price level ever, which is seventy-nine thousand US dollars. This level represents the average cost of purchasing shares of Bitcoin exchange-traded funds in the United States, the breakeven point or profitability for these funds.
This clearly means:
If the price remains above seventy-nine thousand dollars, the funds remain in the profit zone.
However, if the price drops below this level, these funds will enter the unrealized loss zone for the first time.
The actual negative scenario that could cause significant concern only begins if the level of seventy-four thousand dollars is broken with a clear and strong daily close, at which point the funds enter the zone of real losses, and we may then witness additional selling pressure from them.
BTC
87,311.13
+0.40%