Bitcoin Price Under Key Cost Basis: Short-Term Profits, Shifting Institutional Focus

Bitcoin trades below crucial cost basis levels of $113.6k and $115.6k, signaling short-term profit-taking by investors who have held the asset for shorter durations. This dip coincides with a notable shift in institutional interest towards alternative cryptocurrencies like Ethereum and Avalanche (AVAX). This trend suggests potential market volatility as both short-term profit-taking and evolving institutional strategies remain at play.