Bitcoin is trading above a key on-chain cost basis at $48,300, a level analysts are watching as a potential long-term accumulation zone. At the same time, traders see room for a short-term move toward $66,000 before a possible larger correction.
Bitcoin Investor Price at $48,300 Emerges as a Key Long-Term Accumulation Level
Bitcoin's Investor Price, one of the most closely watched on-chain metrics, currently stands at $48,300, according to data shared by crypto analyst Ali Martinez.
The metric represents the average acquisition cost of all economically active Bitcoin, excluding coins believed to be permanently lost. As a result, many analysts view it as a more accurate estimate of the market's true cost basis than traditional realized price models.
Bitcoin Investor Price. Source: Ali Charts (@ali_charts)
Historically, Bitcoin has repeatedly found support near this level during major market corrections. The chart highlights several instances where BTC briefly dipped toward the Investor Price before resuming its broader uptrend.
With Bitcoin trading above the metric, the $48,300 level could serve as an important long-term accumulation zone if the market experiences additional volatility. A sustained move below it, however, could indicate weakening market structure and shifting investor sentiment.
While the Investor Price does not predict exact tops or bottoms, it remains a valuable tool for identifying areas where long-term participants have historically stepped in to buy.
Bitcoin May Rally Before Larger Pullback, Trader Says
Bitcoin's short-term structure remains bullish after price bounced near $61,600, according to crypto trader Kaz.
The chart shows BTC holding a low-risk long area around $61,641, with the first target near $64,200. If momentum continues, the next resistance sits near $66,279, followed by the quarterly open around $68,216.
BTC Weekly Thesis and Trade Setup.
Kaz expects Bitcoin to move higher first, then form a lower high and reverse toward the low $50,000s on a higher time frame. He also pointed to the June 17 FOMC meeting as a possible catalyst for a rally before a sell-off.
The bullish setup remains valid while BTC holds above the current support zone. A drop below $59,128 would weaken the structure.
