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Bitcoin drops below $84,000 cost-basis level and does not rebound
Bitcoin traded below the $84,000 level after a drop in the Asia session and again at the U.S. open, while funding rates stayed near zero across major venues through the decline.
Bitcoin fell through the $84,000 cost-basis level in two stages, first during the Asia session and later at the U.S. open, and has not reclaimed the level, according to The Defiant.
A Bitfinex research note referenced by The Defiant described $84,000 as the market's largest cost-basis cluster.
During the downturn, funding rates remained near zero across OKX, Deribit, and Hyperliquid, per The Defiant.
Latest closeBitcoin $82,696.39 ▼3.3%
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