The Investor Price of Bitcoin is currently around 48300 USD.

In other words, this line represents "the approximate cost of the 'still active investors' holdings."

Historically, this line has a very obvious characteristic:

🔸 Breaking below it during a bear market often suggests widespread losses across the market;

🔸 Retracing to it during a bull market often easily forms strong support;

🔸 In every cycle, this line continues to rise, as more and more high-cost positions enter the market.

Look at the arrows in the picture:

In several key stages, BTC corrections basically complete a turnover near this cost line, then continue upward.

This means the entire market still has a safety cushion of about 30%, which you can understand as potential downward space as well...😂

In contrast, ETH's Delta Price is more extreme, only assessed at 700 USD.

Delta Price can be understood as the structural cost bottom during extreme market despair. Historically, the prices of BTC and ETH only approach Delta Price at the end of the most severe bear markets.

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