Opinion: The cost basis of Bitcoin investors who entered at high positions limits upward potential, selling pressure has significantly weakened.

October 14: glassnode posted that the cost basis of high-price buyers is still limiting Bitcoin's upside. As Bitcoin rebounded to around $88,000, investors holding for 1 to 2 years sold off heavily, and this price level is also close to the break-even point for investors holding for 6 to 12 months. Bitcoin's price then faced resistance below this level, and this selling pressure has now significantly weakened.