Bitcoin short-term holder cost basis is approximately $70,700, with resistance still forming above $70,000

Odaily reports that according to Darkfost's monitoring, Bitcoin short-term holders have been in a loss position for a long time, which is one of the more obvious market characteristics in each bear market. Data shows that Bitcoin's price has now been below the short-term holder cost basis for over 9 consecutive months. Currently, the short-term holder cost basis for Bitcoin is approximately $70,700, and it continues to form an upper resistance level. The market trend in May already reflected this pressure, when BTC tested the area after rising to around $82,000 and then quickly fell back.