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 attempting to absorb the current selling pressure by raising their average purchase prices. According to a CryptoQuant analyst, despite the sharp decline experienced in November, the inflows to permanent investor wallets are showing a stable trend.

These permanent wallets represent addresses that have not made a single withdrawal since they were opened. The CryptoQuant analyst stated that the realized price of this group, or the average purchase cost, has reached $78,520. This situation indicates that long-term capital, such as institutional investors, funds, and whales, are making purchases 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, the true 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 cause temporary fluctuations.

Still, the CryptoQuant analyst pointed out that the current macro conditions are supportive of Bitcoin in the long run. Expectations for interest rate cuts, the nearing end of quantitative tightening (QT), and the increase in money supply (M2) indicate that the market is entering a new liquidity expansion phase. According to CryptoQuant, this cycle could bring a faster recovery compared to the past, presenting significant opportunities for investors.