BTC may accelerate lower if $71.3K support breaks

On-chain analyst Axel Adler Jr. said Bitcoin’s profit cushion for short-term holders with holding periods of under six months is shrinking. The average cost basis for short-term holders stands at about $71,300, and as BTC has fallen while that cost basis edged higher, the buffer narrowed to 7% from 10% over the past week. Adler added that the exchange inflow and outflow P/L indicator has plunged about 96% since Sept. 10, nearing zero. That suggests profit-taking and stop-loss selling are now closely balanced in the market, with a risk that further downside could shift the market toward loss-driven selling.