Bitcoin Reclaims $74K as Cohort Defends Key Support, Eyes $78K Next

• BTC rebounds from crucial $71,400 cost basis for three-to-six-month holders
• Price rises to $74,000, with near-term targets of $78,000 and $90,000

On June 1, 2026, Cointelegraph reported that Bitcoin (BTC) bounced decisively from a major support level at $71,400, the average cost basis for three-to-six-month holders, according to Glassnode. This key cohort remained profitable, incentivized to defend this historically strong zone.

BTC climbed about 2.5% from support, reaching $74,000 over the weekend. Analysts now target $78,000 as the next resistance, with $90,000 also in focus if bullish momentum continues.

The $90,000 level stands out as it aligns with the upper boundary of Bitcoin’s bear flag and the 0.786 Fibonacci retracement. Analysts note that further upside above $71,400 could set new highs, yet a breakdown risks a deeper retracement toward the $50,000–$60,000 range.

Historical rebounds from this cohort's cost basis have produced average returns of 2.3% over 30 days, 21.9% over 90 days, and 36.6% over 180 days. These forecasts map to potential prices of $75,700 within 30 days, $90,200 in 90 days, and $101,100 in six months, per Glassnode metrics cited by Cointelegraph.

BTC’s current rebound marks a critical juncture. Sustaining the support could reinforce bullish sentiment, while a breakdown might suggest broader market weakness.

As of June 1, 2026, 05:09 UTC, Bitcoin (BTC) trades at $74,000, with a -0.91% change in 24-hour trading volume, according to CoinMarketCap.