PANews reported on December 17th that, according to CryptoQuant analyst MorenoDV, Bitcoin's current price is close to the average investor's purchase price (approximately $81,500), a significant psychological level. Investors are generally more willing to hold when the price is above this level; however, if it falls below, this area could become a zone of selling pressure.

Meanwhile, the AVIV ratio, a market sentiment indicator, suggests that Bitcoin is currently in a consolidation phase with low volatility, as investors adjust their positions. If the price can hold above $81,500 and the AVIV ratio (the ratio of active market valuation to realized valuation) remains stable, it indicates that market confidence remains and the trend is likely to continue; however, if it falls below this level, confidence may weaken, and the price may decline further.