Bitwise: The bottom for BTC may be in the cost price range of 84,000 at BlackRock IBIT and 73,000 at Strategy.

PANews news on November 21 reported that Bitcoin is approaching the “maximum pain” zone. The research director of Bitwise pointed out that the possible “maximum pain” selling range is between $84,000 and $73,000, which includes BlackRock's IBIT cost price of $84,000 and Strategy's BTC cost price of $73,000. He believes the final bottom is likely to appear between these two prices and describes these prices as “close all positions price,” similar to a reset for the entire cycle. IBIT saw a single-day outflow of $523 million this week, with a total outflow of $3.3 billion over the past month, accounting for 3.5% of total assets under management. The net asset value of Strategy has fallen below 1, and if the price retests the cost price of $73,000, it may further exacerbate market sentiment. In addition, the uncertainty regarding whether the Federal Reserve will cut interest rates in December has increased, and market liquidity may continue to tighten. Nevertheless, the exchange's stablecoin reserves have reached 72 billion USD, and if the macro environment improves, analysts expect BTC to fluctuate between 60,000 and 80,000 USD by the end of the year. Related reading: Trading moment: Non-farm and Nvidia bullish effects have expired, Bitcoin may drop to the $73,000–$82,000 range.