Bitcoin price targets $78K as BTC holders defend 'strongest near-term support'
Bitcoin is rebounding from a key on-chain support zone near $71,400, the estimated cost basis of holders from three to six months ago. BTC rose about 2.5% over the weekend to around $74,000 after holding near $72,500, and this cohort is seen as a strong line of defense because it is still in profit. A recovery above this cost basis has historically preceded stronger medium-term gains. Since 2017, similar moves have averaged about 2.3% over 30 days, 21.9% over 90 days, and 36.6% over 180 days, implying possible upside toward roughly $75,700, $90,200, and $101,100 from current levels. Near term, $78,200 is the next target, while $90,000 is the key broader upside level because it aligns with both a Fibonacci retracement and the same cohort’s realized price. However, BTC remains inside a bear flag; a daily close below support could signal a breakdown toward the $50,000–$60,000 range.
