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

According to Darkfost's monitoring, Bitcoin short-term holders have been in a loss position for an extended period, which is one of the more notable market characteristics in each bear market cycle. Data shows that the current Bitcoin price has been below the short-term holder cost basis for over nine consecutive months. At present, the short-term holder cost basis stands at approximately $70,700 and continues to form an overhead resistance level. The market trend in May already reflected this pressure, as BTC quickly retreated after briefly testing this zone by rising to around $82,000.