Short-term Bitcoin holders still in profit, limiting downside risk

Bitcoin continues to trade above key short-term cost basis levels despite the recent decline, according to Glassnode on X. As of June 11, the average acquisition prices for one-week, one-month, three-month and six-month holders are $106,200, $105,200, $98,300 and $97,000, respectively. Since most holders remain in profit, the risk of a sharp decline is considered limited.