CryptoQuant analyst BlitzzTrading wrote: "Historical data shows that the price of Bitcoin has never fallen below the average cost of holding more than 10,000 BTC wallets. Even during bear markets, the average cost of such wallets has played a supporting role. Since March 3rd, we have observed a large number of purchases by wallet accounts holding over 10,000 BTC, with the current average cost being $39,874. Even if we enter a bear market, the $39,874 level can serve as a good support level. "