• Bitcoin finds support at $74K, with strong cost basis clusters providing a potential floor
• $69K serves as a critical soft floor, limiting downside risk in the near term

Bitcoin [BTC] appears to have found support at the $74K level, where over 50,000 BTC are concentrated — largely held by investors who’ve remained inactive since early March.

This range marks the first major supply cluster below $80K, and with additional cost basis levels at $71.6K and $69.9K, the downside may be cushioned in the near term.

Price action and support levels

Bitcoin has stabilized at $74K, supported by over 50,000 BTC held by long-term investors inactive since early March. This price level reflects patterns seen in past bull markets, serving as the first significant supply cluster below $80K.

Between $74K and $70K, approximately 175,000 BTC are distributed across various cost basis levels, offering a cushion against further decline. The largest concentrations are located at $71.6K and $69.9K.