Bitcoin approaches $73K-$84K 'max pain' range as analysts highlight potential deep discount

Key Takeaways

• Bitcoin's current price is nearing a 'max pain' range between $73,000 and $84,000, identified as important institutional cost base levels.
• Significant holders like BlackRock’s IBIT ETF and MicroStrategy have cost bases in this region, making it a psychological and technical zone of interest.

Bitcoin is approaching a “max pain” range of $73,000-$84,000 as analysts highlight the current price decline as a potential deep discount opportunity tied to major institutional cost bases.

The max pain range corresponds to cost bases of significant institutional Bitcoin holders, including BlackRock’s IBIT exchange-traded product and Strategy, formerly known as MicroStrategy.

Analysts are framing the current market downturn as a discount zone influenced by these institutional positions, suggesting the price slump could represent a strategic entry point for investors looking to accumulate Bitcoin at levels near major institutional cost bases.