Bitcoin (CRYPTO: BTC) has stalled at $78,000 as Charles Schwab (NYSE:SCHW) warns two resistance levels could cap the rally despite $1.4 billion in weekly ETF inflows.
The $78,000 Cost Basis Problem
The active investor cost basis sits at approximately $78,000, where last week’s rally stopped. This represents the average price investors paid for Bitcoin on secondary markets.
Jim Ferraioli, Director of Digital Currencies Research and Strategy at the Schwab Center for Financial Research, says both the $78,000 and $83,000 levels show that the average Bitcoin investor is currently sitting at a loss.
“These levels could serve as much stronger areas of resistance than moving averages,” Ferraioli told Decrypt.
Why $83,000 Is The Real Sell Zone
Around $83,000 is the average cost basis across all spot Bitcoin ETPs. This is where new crypto …
