Analyst: Bitcoin Short-Term Holders' Cost Basis Rises to $76K, Market Tests Conviction to Hold

Odaily reports: Crypto analyst Darkfost posted that Bitcoin short-term holders (STH) saw a sharp increase in profits yesterday, with their cost basis now approaching $76,000, and the market is testing this group's conviction to hold. The short-term holder MVRV metric is currently approaching the neutral level of 1, after having risen above 1.18 in late September—a new high since July 2025—meaning short-term holders had previously been sitting on the highest level of unrealized profits in over a year.Darkfost noted that the short-term holder cost basis has been rising continuously since mid-August, when it was around $67,500, reflecting this group's continued entry as Bitcoin rallied. As Bitcoin's medium-term trend turns positive, MVRV returning to near 1 could become a key price zone for short-term holders to take action: some investors may choose to keep buying, while others may capitulate and exit due to lack of confidence. Which force ultimately prevails in the market remains to be seen.