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Bitwise analyst: "The biggest pain point for Bitcoin" lies between the strategy cost price of $73,000 and BlackRock's IBIT cost price of $84,000.
Odaily News According to Bitwise's European Research Director André Dragosch, the critical pain point area for Bitcoin prices (i.e., the main cost basis level for institutional investors, which is currently determining the bottom of this cycle) is mainly located between the cost basis price of 84,000 USD for BlackRock's IBIT and the cost price of about 73,000 USD for Strategy (formerly MicroStrategy). Dragosch pointed out that the ultimate cycle bottom for Bitcoin often appears near the price levels where large institutional buyers face the largest falls. These price levels often signify what he calls “dumping pricing”—the moment when prices plummet. The market has undergone a complete reset, forcing sellers to yield.