Data: Bitcoin has fallen below the short-term holders’ cost basis for over 9 months, and bearish market characteristics have not yet disappeared.

Mars Finance reports that CryptoQuant analyst Darkfost said that the current Bitcoin price has already been below short-term holders’ cost basis (STH Cost Basis) for more than 9 months. Historically, periods when long-term and short-term holders are both in losses have often been highly correlated with bear-market cycles. At present, Bitcoin’s short-term holders’ cost basis is around $70,700 and continues to act as overhead resistance. The market’s price action in May reflected this pressure: BTC rose to around $82,000, tested the area, and then quickly pulled back.
BTC-0.07%
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