BlockBeats News, October 11th, CryptoOnchain released on-chain data indicating that Bitcoin is currently testing a key support level—namely, the new whale’s “Cost Price Support Line.” This line represents the average holding cost of new large funds entering the market. Historical data shows that whales usually staunchly defend this cost line to avoid losses, with this level having served as a strong demand bottom multiple times in the past (twice since August). The current market’s central suspense lies in whether whales will once again intervene to support the market. Therefore, the upcoming price action (i.e., the reaction at this key level) is crucial.
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