BTC short-term holders face 6% average loss, no capitulation sign yet

Bitcoin short-term holders are sitting on average unrealized losses of about 6%, but there are still no signs of large-scale capitulation, according to CryptoQuant analyst Axel Adler Jr. Adler said short-term holders' average cost basis stands at about $67,300, while BTC is currently trading around $63,200. STH MVRV is about 0.94 and has remained below the break-even level of one for 98 straight days, indicating losses have persisted for more than three months, Adler said. Adler added STH SOPR, which tracks realized profit and loss from actual selling, is around 0.996, suggesting short-term holders are selling at slight losses, but the scale of those losses does not yet point to panic selling. Adler also said downside pressure could intensify if BTC breaks below the $59,300 support level.