CryptoQuant reported that sellers have held the upper hand in Bitcoin since late October and that recent buyers’ average cost is $79.3K.
According to CryptoQuant’s analysis, Bitcoin is trading below the average cost basis of those who bought in the past 1–3 months. Bitcoin closed at $74.8K on Nov. 8, about 5.7% below the cost basis of around $79.3K; the analysis says most buyers during this period are at a loss.
CryptoQuant’s buyer-seller indicator tracks spot market purchases and sales, as well as liquidations of leveraged positions. The line has been red since late October, indicating that sellers are stronger. The indicator also turned red during January’s sharp decline and green during August’s rally.
Selling pressure could emerge around $79,000
Some investors who recently bought Bitcoin may sell to break even if the price returns to their cost basis. CryptoQuant says this possibility could make it harder for Bitcoin to rise around $79,000.
The analysis also notes that the price climbed back above the cost basis after remaining below it for months during the February–April and June–August periods in 2026. According to CryptoQuant, a stronger sign of recovery would require both the indicator to turn green in buyers’ favor and Bitcoin to close above around $79,000.
Not investment advice.