Bitcoin is nearing a critical price level of $81,500, which represents the average cost for investors, according to CryptoQuant analyst MorenoDV. This level is seen as a significant psychological threshold, where a drop below could trigger increased selling pressure. Currently, Bitcoin is in a consolidation phase with low volatility, as indicated by the AVIV ratio, a market sentiment measure. The AVIV ratio, which compares active market valuation to realized valuation, suggests that if Bitcoin maintains its price above $81,500, market confidence could remain stable. However, a decline below this level might lead to weakened investor confidence and further price drops. The market is closely watching this level as a potential pivot point for future price movements.