BTC Holds Above $71,300 Key Support Level Amid Market Volatility

On-chain analyst Darkfost has analyzed that BTC is currently trading above the average purchase price of active supply at $71,300, which is acting as a key support level. The average acquisition cost for active supply refers to the mean purchase price of Bitcoin in circulation, excluding long-term holdings. Darkfost explained that this indicator previously served as support twice during the end of the 2023 bear market, suggesting investors may defend their break-even points if prices decline.