Analyst: Bitcoin Has Fallen Below Short-Term Holder Cost Basis for Over 9 Months, Bear Market Characteristics Have Not Yet Faded
CryptoQuant analyst Darkfost stated in a post that the Bitcoin price has been below the Short-Term Holder Cost Basis (STH Cost Basis) for more than 9 consecutive months. Historically, such prolonged phases of short-term holder losses are often highly correlated with bear market cycles. Currently, the Bitcoin short-term holder cost basis is approximately $70,700 and continues to act as a resistance level above. The market trend in May already reflected this pressure, when BTC surged to near $82,000 to test the region before quickly encountering a pullback.
