Bitcoin hits 11-week low after sliding below $75,700
In short
Bitcoin fell to an 11-week low of $72,670 after moving below about $75,700, the average cost basis for short-term holders.
CryptoQuant says short-term holders sent 47,000 BTC to exchanges at a loss, showing pressure on recent buyers.
What the reporting says
Bitcoin fell to an 11-week low of $72,670 after slipping below short-term holders’ average cost basis of about $75,700, according to CryptoQuant. The drop signals pressure on traders who bought near that cost level.
Why it matters
Bitcoin dropped to $72,670, an 11-week low, after falling below short-term holders’ average cost basis of about $75,700. The move matters because it shows stress among recent buyers and adds downside pressure in the crypto market.