**[Data: The Average Holding Cost of New Whales Currently at $80,300]** According to a report by Jinse Finance on May 8, on-chain analyst @ali_charts has monitored that the average holding cost of new whales (institutional investors who entered the market within the past 155 days) is currently at $80,300. When the price of BTC falls below this average cost line, these whales will be in a state of holding losses. Yesterday, Bitcoin reached a high of $82,800 before retreating below the $80,300 threshold. If Bitcoin fails to stabilize above $80,300, these new whales may be motivated to sell off, aiming to break even and exit to avoid further losses. Such panic-driven exits could create a wave of selling pressure, further driving the price down. Conversely, if Bitcoin successfully converts $80,300 into strong support, it would indicate that the selling pressure in the market has been exhausted. Once these whales return to a profitable position, they are likely to stop selling, shift to holding and observing, and set their sights on higher targets. This would serve as the logical foundation for the start of a new upward trend.