Bitcoin price threatens $77.7K support loss with recent buyers underwater
Summary
Bitcoin is trading near $76,500, below the $77,700 cost basis of investors who bought one to three months ago. CryptoQuant analysis says that level, which previously acted as support, could become resistance as underwater buyers sell near breakeven. Bitcoin is also nearing the broader short-term holder realized price of $75,832. If prices fall further, an MVRV level of 0.85—previously reached in June and described as a potential capitulation or short-trap zone—may become a key reference point.
