₱4,179,411 ($72,000)-₱4,411,601 ($76,000) Could Trigger ₱330.87 billion ($5.7 billion) in Selling Pressure

Crypto analyst Sherlock argued on X that a Bitcoin rally to $72,000-$76,000 could become a kill zone for bulls rather than a real recovery. The warning centers on Strategy Holdings' massive position: 714,644 BTC purchased at an average cost of $76,052.

Bitcoin has been trading in a tight range below $70,000, currently sitting at $66,980. That puts Strategy's holdings underwater by approximately ₱330.87 billion ($5.7 billion), representing 3.4% of Bitcoin's total supply.

Sherlock's concern is that a recovery into the $72,000-$76,000 range would hit multiple breakeven points for major holders. Strategy has publicly stated it has no intention of selling and emphasized its balance sheet could withstand Bitcoin dropping below $10,000. But the analyst sees that price zone as a natural pressure point where profit-taking could reverse any upward momentum.

Spot Bitcoin ETFs face even steeper losses. These funds hold 1.28 million BTC with average entry prices between $84,000 and $90,000. They've recorded more than ₱348.28 billion ($6 billion) in net outflows since late 2025, suggesting institutional investors are already cutting exposure.

The data shows 63% of invested Bitcoin wealth has a cost basis above $88,000. Sherlock identified that level as the next potential bull trap if Bitcoin manages to push past the $74,000-$76,000 resistance zone. Each price plateau represents another layer of holders who bought near peaks and may look to exit on any bounce. Strategy currently holds Bitcoin worth approximately ₱2.78 trillion ($47.9 billion) at today's $66,980 price.