BTC nears short-term holder cost basis, raising risk of break-even selling

Bitcoin has nearly recovered the average cost basis of short-term holders, defined as wallets holding BTC for less than 155 days, on-chain analyst AxelAdlerJr said. BTC is currently trading around $64,952, about 3.8% below the short-term holder realized price of $67,523, and has repeatedly attempted to reclaim that level only to fall back below it on 279 of the past 284 days, Adler added. In the current range, short-term holders could also sell at around break-even, potentially adding selling pressure to the market.