Analyst: Bitcoin Closes Above Active Supply Cost Basis of $70,400

The relevance here is less the level itself than what it represents: an on-chain threshold separating profit from loss for recent buyers, which makes it a natural line to watch for shifts in holder behavior. Whether that level holds as support, or gets retested and lost, is the open question that matters more than the close that produced it. For anyone tracking market structure rather than price alone, the follow-through on this metric is the thing worth monitoring.