Bitcoin investors are absorbing selling pressure.

Recently, the fluctuations in the price of Bitcoin (BTC) have increased the interest of long-term investors. Long-term Bitcoin investors are trying to absorb the current selling pressure by raising their average buying prices. According to a CryptoQuant analyst, despite the sharp drop experienced in November, entries to permanent investor wallets have shown a stable trend.

These permanent wallets represent addresses that have not executed a single outgoing transaction since they were opened. The CryptoQuant analyst stated that the realized price of this group, or the average acquisition cost, has reached $78,520. This situation indicates that long-term capital, such as institutional investors, funds, and whales, is purchasing even at high prices, and short-term sales are being absorbed by these strong investors.

Currently, $78,500 stands out as a critical price level. According to the CryptoQuant analyst, a real crypto winter can only begin if the market falls below this average cost. However, in the short term, factors such as the potential government shutdown in the U.S., corrections in the stock markets, and the premium difference in Korean exchanges may lead to temporary fluctuations.

Nonetheless, the CryptoQuant analyst pointed out that the current macro conditions are supportive for Bitcoin in the long run. With expectations of interest rate cuts, the end of quantitative tightening (QT), and an increase in the money supply (M2), it is noted that the market has entered a renewed liquidity expansion process. According to CryptoQuant, this cycle may bring about a faster recovery compared to the past, presenting significant opportunities for investors.