Bitcoin Trades Below Short-Term Holder Cost Basis for Over Nine Months, Darkfost Says

Bitcoin has remained below the cost basis of short-term holders for more than nine consecutive months, according to monitoring by Darkfost. According to Odaily, Darkfost said short-term holders staying in a prolonged loss position is one of the clearer market characteristics seen during each bear market cycle. Data cited by Darkfost show Bitcoin’s price has been below the short-term holder cost basis for over nine months. The short-term holder cost basis is currently about $70,700 and has continued to act as overhead resistance. Darkfost pointed to May market action as reflecting this pressure, saying BTC rose to around $82,000 to test the area before quickly pulling back.