This is the most important resistance level for Bitcoin! The average cost basis of new whales (entities that bought in the last 155 days) is currently sitting at $80,300. When BTC trades below this average cost basis, these whales are holding at a loss. Yesterday, Bitcoin pushed to a high of $82,800, but it has since dropped back below this $80,300 level. If Bitcoin fails to stay above $80,300, these new whales are incentivized to sell just to break even and avoid further losses. This panic to exit can create a wave of selling pressure that pushes prices much lower. However, if Bitcoin can flip $80,300 into solid support, it signals that the selling pressure is exhausted. Once these whales are back in the green, they stop selling and start holding for higher targets, which is exactly how new uptrends begin.(Ali Charts)