Analyst: Bitcoin Mirrors Late-2025 Pattern, $80,500 Is Key Support

The interesting part is the framing around a capital-weighted cost basis: when price hovers near the average holder's break-even, supply tends to change hands between conviction and fatigue, which is why that zone carries more weight than a routine technical level. This matters most for recent buyers whose positions sit closest to that line, since their behavior typically drives near-term volatility. Whether price keeps respecting that zone as support, or loses it and forces a reassessment of the late-2025 analogy, is the open question.