FameEX Hot Topics | Bitcoin's Average Acquisition Cost Reaches Record High of $40.9K in 2024

According to ARK Invest's Big Ideas 2025 report, the total cost basis of Bitcoin — a key measure of the original value of all Bitcoin positions — hit an all-time high of $40,980 by the end of 2024. The report shows that the Bitcoin cost base has grown by 86% over the past year, eventually reaching $40,980 per bitcoin, with a total value of $811.7 billion. Some investors regard this total cost indicator as a reference for Bitcoin’s long-term fair value and believe it could become a key support level for the next Bitcoin bear market.

Analysts, including Blockstream co-founder Adam Baker, said Bitcoin’s “base price” has already exceeded the $40,000 mark, making it an important support level. Some indicators show that Bitcoin’s base price is close to $44,000, including the 200-week moving average—a popular technical indicator that determines long-term market trends by eliminating daily volatility. CoinGlass data shows that as of February 11, Bitcoin’s 200-week moving average reached $43,983, while the price of Bitcoin is above $95,740.

Baker noted that this key indicator broke the $40,000 psychological barrier on October 18, 2024. He said: "Bitcoin's 200-week moving average is actually Bitcoin's 'only rise but not fall' bottom price, which has exceeded $40,000. You can think of it as the Bitcoin bottom price after removing volatility, at least historically. "At the same time, Bitcoin prices are still susceptible to economic indicators in the short term, including the U.S. Consumer Price Index (CPI) data scheduled for February 12.

Nexo dispatch analyst Ilya Karchev said this could impact sentiment among cryptocurrency investors in the coming weeks. He noted: "If the data is higher than expected, it may turn investors' attention to rate hikes, which will affect the short-term trend of Bitcoin. In addition, Japan's January producer price index (PPI), Germany's January inflation data, and A series of UK indicators will also provide more clues to the market direction. "He added: "The market will have both bullish potential and volatility this week."

Meanwhile, Bitcoin remains resilient above $95,000 despite experiencing its largest intraday sell-off since the 2022 Three Arrow Capital (3AC) collapse. Investor concerns about escalating trade war tensions between the U.S. and China and other major economies have triggered a massive sell-off.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.