Bitcoin bear market may end if bulls reclaim $74.5K: Here’s why

Bitcoin trades below most holders’ cost basis, but a rally above $74,500 could change everything. Can the bulls pull it off?

Bitcoin (BTC) has rebounded 7.45% over the past two days after dropping to $62,400 on Tuesday, below a key onchain price support. Despite the bounce, holders who bought between six months and two years ago remain at an average cost of $74,500, a level that now stands as a potential inflection level.

As BTC moves higher, the concentration of supply around $74,500 stands as a key test for the current trend; a decisive reclaim of that level may signal demand and a shift in short-term market structure.

Bitcoin’s realized price tracks the average onchain acquisition cost for a given UTXO age band. For coins aged 18 to 24 months, that level stands near $64,200.

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