Bitcoin Holds Steady Near $76,350 Cost Basis Amid Market Volatility

Bitcoin's price has remained relatively stable over the past five days, trading between $76,500 and $79,500. According to Pluang, this stability is supported by an active investor cost basis near $76,350, which has absorbed selling pressure.

The long-term holders of Bitcoin have shown limited profit-taking, while downside options protection clusters are seen between $68,000 and $75,000. Calls favor a move above $80,000, indicating potential upside if the price closes above $82,818.

Despite risks from potential U.S. interest rate hikes and geopolitical tensions, Bitcoin's price structure remains intact. Corporate buyers like Strategy have been purchasing significant amounts to offset cooling ETF demand.