According to @ki_young_ju, Bitcoin investors who entered 6 to 12 months ago have a cost basis near $94,000, signaling a key reference level for recent cohort positioning, source: @ki_young_ju on X, Nov 14, 2025. He states a bear cycle is not confirmed unless BTC loses $94,000, framing $94K as the primary downside confirmation threshold traders should monitor, source: @ki_young_ju on X, Nov 14, 2025. He adds he would rather wait than jump to conclusions, reinforcing a patience bias until $94,000 is decisively breached, source: @ki_young_ju on X, Nov 14, 2025.