Bitcoin Short-Term Holder Cost Basis Approximately $70,700, Still Forming Resistance Above $70,000

Odaily Planet Daily News 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 the current Bitcoin price has been below the short-term holder cost basis for more than 9 consecutive months. Currently, the Bitcoin short-term holder cost basis is approximately $70,700, which continues to constitute an upward resistance level. The market trend in May has reflected this pressure, when BTC quickly retreated after testing the area near $82,000.